AD Ports, Adani Ports JV to invest $39.5m in Tanzania

Abu Dhabi’s AD Ports Group has joined forces with Adani International Port Holding and East Harbour Terminals to acquire a 95 per cent stake in Tanzania International Container Terminal Services (TICTS) from Hutchison Port Holdings for $39.5m.

“Together, we can further explore investment opportunities within the country. As a group, we are delivering on our strategy to expand our presence in geographies relevant to our business and to the UAE economic diversification strategy,” said Mohamed Juma Al Shamisi, the managing director and group CEO of AD Ports Group.

“Through such strategic partnerships, we aim to leverage our combined know-how and expertise to develop infrastructure in Tanzania, support its economic growth and boost competitiveness.”

AD Ports, which owns 30 per cent of KEZAD-based East Africa Gateway, said the deal is expected to close by the end of June.

TICTS will operate the terminal, which has an annual container capacity of 1 million TEUs. Last year, the container terminal handled around 0.82 million TEUs, representing 83 per cent of Tanzania’s total container volumes.

AD Ports continues to expand its presence in major trade regions and maritime routes, investing in developing ports as part of the logistics firm’s broader strategy to enhance global trade and support economic diversification in the UAE.

The Abu Dhabi-listed logistics firm signed an MoU with a consortium of Egyptian companies in May to develop a green methanol storage and export facility to supply low-carbon fuel for maritime transport.

The green methanol facility, which is being developed in partnership with Orascom Construction and Transmar, presents an opportunity to establish clean alternative energy storage solutions.

Read: UAE’s AD Ports Group to develop green methanol facility in Egypt