Indian Abu Dhabi company to invest in Tanzania port

citizen journalist

Dar/Abu DhabiThe government’s pro-business policies are increasingly attracting investors to Tanzania, with the latest entrants being Abu Dhabi Ports PSJC (AD Ports Group) and India’s largest integrated ports and logistics company Adani Ports and SEZ Ltd.

AD Ports Group, positioning itself as a leading facilitator of global trade, logistics and industry, has signed a Memorandum of Understanding (MoU) with Adani Ports and SEZ Ltd to strategically co-invest in end-to-end logistics infrastructure and solutions.

Under the memorandum of understanding, the companies will invest exclusively in railways, maritime services, port operations, digital services, industrial estates and the establishment of a maritime academy in Tanzania, the companies said in a statement widely cited by multiple media outlets.

The two companies signed a key agreement to launch a series of potential country-level investments to develop, improve and facilitate the end-to-end maritime and logistics ecosystem that will make Tanzania a hub for the African region.

“This MoU with Adani Ports and SEZ Ltd has a significant impact on Tanzania’s ability to transform itself into an African trading hub and our ability to further develop global capabilities and connections to move goods faster and more efficiently to market,” said Capt. Mohamed Juma Al Shamisi, AD Ports Group Managing Director and Group Chief Executive Officer.

He said the company’s strategic investment in Tanzania’s infrastructure and solutions will enable international companies to enter the African market. “Following the direction of the UAE leadership, we are positioning Abu Dhabi as a global leader in logistics and industry,” he said.

Mr. Karan Adani, Chief Executive Officer of Adani Ports and SEZ Ltd, said the partnership with AD Ports Group will facilitate the development of critical quality infrastructure in Tanzania, especially in the port and maritime sector.

“This will improve and bring positive change to the community, upholding our commitment to good growth. We continue to support local employment, as well as overall economic growth in Tanzania and the East African countries that will benefit from our partnership with AD Ports Group. benefit from the investment,” he said.

Founded in 2006, AD Ports Group is a major facilitator of logistics, industry and trade, and a bridge between Abu Dhabi and the world. Listed on the Abu Dhabi Stock Exchange, AD Ports Group’s vertically integrated business approach has proven to be instrumental in driving the emirate’s economy over the past decade.