Business Wire

Adani Ports Signs 30-Year Concession to Operate Container Terminal 2 at Dar es Salaam Port

Share

Adani International Ports Holdings Pte Ltd. (AIPH), a wholly owned subsidiary of Adani Ports and Special Economic Zone Ltd. (APSEZ), has signed a 30-year concession agreement with the Tanzania Ports Authority to operate and manage Container Terminal 2 at the Dar es Salaam Port, Tanzania. Dar es Salaam Port is a gateway port with a well-connected network of roadways and railways.

CT2, with four berths, has an annual cargo handling capacity of 1 million TEUs and managed 0.82 million TEUs of containers in 2023, estimated to be 83% of Tanzania’s total container volumes. East Africa Gateway Limited (EAGL) has been incorporated as a joint venture of AIPH, AD Ports Group and East Harbour Terminals Limited (EHTL). APSEZ will be the controlling shareholder and will consolidate EAGL on its books.

EAGL has signed a Share Purchase Agreement for the acquisition of 95% stake in Tanzania International Container Terminal Services Limited (TICTS) from Hutchison Port Holdings Limited (and its affiliate Hutchison Port Investments Limited) and Harbours Investment Limited for a purchase consideration of USD 39.5 million. TICTS currently owns all the port handling equipment and employs the manpower. Adani will operate CT2 through TICTS.

“The signing of the concession for Container Terminal 2 at Dar es Salaam Port is in line with APSEZ’s ambition of becoming one of the largest port operators globally by 2030. We are confident that with our expertise and network in ports and logistics, we will be able to enhance trade volumes and economic cooperation between our ports and East Africa. We will strive to transform Dar es Salaam Port into a world class port,” said Mr. Karan Adani, Managing Director, APSEZ.

About Adani Ports and Special Economic Zone Ltd.

Adani Ports and Special Economic Zone Ltd. (APSEZ), a part of the globally diversified Adani Group, has evolved from a port company to an Integrated Transport Utility providing an end-to-end solution from its port gate to customer gate. It is the largest port developer and operator in India with 7 strategically located ports and terminals on the west coast (Mundra, Tuna, Dahej, and Hazira in Gujarat, Mormugao in Goa, Dighi in Maharashtra and Vizhinjam in Kerala) and 8 ports and terminals on the East coast of India (Haldia in West Bengal, Dhamra and Gopalpur in Odisha, Gangavaram and Krishnapatnam in Andhra Pradesh, Kattupalli and Ennore in Tamil Nadu and Karaikal in Puducherry), representing 27% of the country's total port volumes, thus providing capabilities to handle vast amounts of cargo from both coastal areas and the hinterland. The company is also developing a transshipment port at Colombo, Sri Lanka, and owns the Haifa Port in Israel.

Our Ports to Logistics Platform comprising port facilities, integrated logistics capabilities including multimodal logistics parks, Grade A warehouses, and industrial economic zones, puts us in an advantageous position as India stands to benefit from an impending overhaul in global supply chains. Our vision is to be the largest ports and logistics platform in the world in the next decade. With a vision to turn carbon neutral by 2025, APSEZ was the first Indian port and third in the world to sign up for the Science-Based Targets Initiative (SBTi) committing to emission reduction targets to control global warming at 1.5°C above pre-industrial levels.

To view this piece of content from cts.businesswire.com, please give your consent at the top of this page.

Contact information

For media information, please contact: roy.paul@adani.com

About Business Wire

For more than 50 years, Business Wire has been the global leader in press release distribution and regulatory disclosure.

Subscribe to releases from Business Wire

Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.

Latest releases from Business Wire

EASA Certifies LEAP-powered Airbus A321XLR19.7.2024 16:14:00 EEST | Press release

CFM International is celebrating certification of the LEAP-powered Airbus A321XLR by the European Union Aviation Safety Agency (EASA). The A321XLR marks the fifth member of the A320neo family aircraft powered by LEAP engines. Supporting aircraft certification were updates to the engine’s type certificates, which EASA and the U.S. Federal Aviation Administration (FAA) granted on July 10. “Certification of the CFM-powered A321XLR is an important milestone in providing our operators much greater route scheduling flexibility,” said Gaël Méheust, president and CEO of CFM International. “The engine was always designed with 35,000-lb. thrust capability for longer range, higher max takeoff weight aircraft. As a result, no engine modifications were required, giving operators the added benefit of 100 percent commonality with their existing A320neo family fleets.” As the aviation industry gathers at the Farnborough International Airshow, trade visitors will be able to see the LEAP-powered A321XLR

Textron Aviation Bolsters Support in the United Kingdom and Ireland Through Expanded Relationship With Gama Aviation (UK) Limited19.7.2024 16:00:00 EEST | Press release

Textron Aviation Inc., a Textron Inc. (NYSE: TXT) company, today announced at the Royal International Air Tattoo (RIAT) that the company is expanding its relationship with longtime channel partner Gama Aviation. Newly designated as an Authorized Sales Representative (ASR) for Textron Aviation Special Missions aircraft in the United Kingdom and Ireland, Gama Aviation will now feature special missions variants of the entire portfolio of Cessna and Beechcraft aircraft. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20240720707608/en/ Textron Aviation | Textron Aviation expanding relationship with channel partner Gama Aviation (Photo: Business Wire) “With an established and growing base of our special missions aircraft in the United Kingdom and Ireland, Textron Aviation is continuously investing in providing the best aviation experience for customers,” said Bob Gibbs, vice president, Special Mission Sales, Textron Aviation. “Gama

Qualcomm Schedules Third Quarter Fiscal 2024 Earnings Release and Conference Call19.7.2024 16:00:00 EEST | Press release

Qualcomm Incorporated (NASDAQ: QCOM) today announced that it will publish the Company’s financial results for its third quarter fiscal 2024 on Wednesday, July 31, 2024, after the close of the market on the Company’s Investor Relations website, at https://investor.qualcomm.com/financial-information. The earnings release will also be furnished to the Securities and Exchange Commission (SEC) on a Form 8-K, which will be available on the SEC website at http://www.sec.gov. Qualcomm will host a conference call to discuss its third quarter fiscal 2024 results which will be broadcast live on July 31, 2024, beginning at 1:45 p.m. Pacific Time (PT) at https://investor.qualcomm.com/news-events/events. An audio replay will be available at https://investor.qualcomm.com/news-events/events and via telephone following the live call for 30 days thereafter. To listen to the replay via telephone, U.S. callers may dial (877) 660-6853 and international callers may dial (201) 612-7415. Callers should use re

GE Aerospace Investing $1 Billion to Expand and Upgrade MRO Facilities Worldwide19.7.2024 14:55:00 EEST | Press release

GE Aerospace (NYSE:GE) announced plans to invest more than $1 billion over five years in its Maintenance, Repair and Overhaul (MRO) and component repair facilities worldwide. These investments will help GE Aerospace create capacity to meet growth in both the widebody and narrowbody installed base by adding additional engine test cells and equipment. The funding also will add cutting-edge technology, including enhanced inspection techniques, to reduce turnaround times for customers as well as expand component repair capability within its overhaul shops. GE Aerospace President and CEO, Commercial Engines and Services, Russell Stokes said, “Our customers are experiencing strong air travel demand, and we are investing to increase our capacity and efficiency so we can meet their growing needs and keep their planes flying safely and reliably. With this major investment, we are reinforcing our longstanding focus on safety, quality, and delivery for our customers and the flying public.” The la

SLB Announces Second-Quarter 2024 Results19.7.2024 13:50:00 EEST | Press release

Regulatory News: This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20240717947903/en/ The exterior of the SLB headquarters in Houston, Texas. (Photo: Business Wire) SLB (NYSE: SLB) today announced results for the second-quarter 2024. Second-Quarter Results (Stated in millions, except per share amounts) Three Months Ended Change Jun. 30, 2024 Mar. 31, 2024 Jun. 30, 2023 Sequential Year-on-year Revenue $9,139 $8,707 $8,099 5% 13% Income before taxes - GAAP basis $1,421 $1,357 $1,293 5% 10% Income before taxes margin - GAAP basis 15.5% 15.6% 16.0% -4 bps -42 bps Net income attributable to SLB - GAAP basis $1,112 $1,068 $1,033 4% 8% Diluted EPS - GAAP basis $0.77 $0.74 $0.72 4% 7% Adjusted EBITDA* $2,288 $2,057 $1,962 11% 17% Adjusted EBITDA margin* 25.0% 23.6% 24.2% 142 bps 81 bps Pretax segment operating income* $1,854 $1,649 $1,581 12% 17% Pretax segment operating margin* 20.3% 18.9% 19.5% 135 bps 76 bps Net income attributable to

In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.

Visit our pressroom
HiddenA line styled icon from Orion Icon Library.Eye