Adani Ports To Enter Tanzania With Joint Investments With AD Ports Group In Rail And Maritime Services
Adani Group’s Ports arm plans to foray into the East African nation of Tanzania on a large scale with an end-to-end logistics infrastructure and solutions.
Facilitating this plan, AD Ports Group has signed a Memorandum of Understanding (MoU) with Adani Ports and SEZ Ltd (APSEZ) for strategic joint investments in rail, maritime services, port operations, digital services, an industrial zone and the establishment of maritime academies in Tanzania.
“The two companies signed the key agreement setting in motion a series of potential country-level investments to grow, improve, and promote an end-to-end maritime and logistics ecosystem which will make Tanzania a hub for the African region,” APSEZ said in a statement.
“This MoU with Adani Ports and SEZ Ltd is significant in its impact on both Tanzania’s ability to transform itself into an African trading hub, as well as our ability to further develop our global capabilities and connections that will bring goods to market faster and more efficiently,” Mohamed Juma Al Shamisi, Managing Director and Group CEO, AD Ports Group, said.
“We are pleased to be partnering with AD Ports Group in the development of key quality infrastructure in Tanzania especially in the ports and maritime sector, which will improve and bring about positive change in the communities, standing by our commitment to growth with goodness,” Karan Adani, CEO of APSEZ, said.
APSEZ is India’s largest integrated ports and logistics company with a presence across 12 locations. The company has 498 MMTPA capacity with 13 ports and terminals and consists of 15,000 hectares of industrial land, four lakh square feet of warehousing and three logistics parks.
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