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East Africa Gateway Ltd, an associate company of Adani Ports and Special Economic Zone Ltd (APSEZ) incorporated in the United Arab Emirates, has agreed to purchase Tanzania International Container Terminal Services Ltd (TICTS), which operates a container terminal at Tanzania's main port of Dar es Salaam, according to the East African country's Fair Competition Commission (FCC).
Tanzania's antitrust regulator stated in a public notice on February 6 that it had received notification from East Africa Gateway Ltd to acquire the entire equity of Tanzania International Container Terminal Services, whose founding directors include local businessmen Nazir Karamagi and Yogesh Manek.
In the public notice, the FCC said it has begun the “review and investigation of the intended acquisition to examine whether it is likely to harm competition." When announced, the deal would be APSEZ's third port acquisition globally in recent years, following Haifa Port in Israel and an under-construction container terminal in Colombo Port.
Since January 2023, APSEZ was hired by Tanzania Ports Authority to run four container handling berths (8 to 11) at Dar es Salaam Port as a service provider, after its five-year contract with Tanzania International Container Terminal Services (TICTS), a unit of Hong Kong’s Hutchison Port Holdings Ltd, ended.
As a precursor to the acquisition of TICTS at Dar es Salaam Port, APSEZ and Abu Dhabi Ports Group signed a MoU in August 2022 for pursuing strategic joint investments in end-to-end logistics infrastructure and solutions, including rail, maritime services, port operations, digital services, industrial zone, and the establishment of maritime academies in Tanzania.
The agreement set 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, the two companies said after signing the MoU to pursue the collaboration.
APSEZ, then CEO and now Managing Director Karan Adani, said that partnering with the “AD Ports Group in developing key quality infrastructure in Tanzania, especially in the ports and maritime sector, will improve and bring about positive change in the communities”. Abu Dhabi Securities Exchange listed A D Ports Group, a part of Abu Dhabi Developmental Holding Company, as one of the region’s largest holding companies based in the capital of the United Arab Emirates.
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