What you need to know:
- The two firms will specifically invest in rail, maritime services, port operations, digital services, an industrial zone and the establishment of maritime academies in Tanzania.
Dar/ Abu Dhabi. The 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, which markets itself to be the leading facilitator of global trade, logistics, and industry, has signed a Memorandum of Understanding (MoU) with Adani Ports and SEZ Ltd for strategic joint investments in end-to-end logistics infrastructure and solutions.
Under the MoU, the two firms will specifically invest in rail, maritime services, port operations, digital services, an industrial zone and the establishment of maritime academies in Tanzania, the companies said in a statement that was widely quoted by various media outlets yesterday.
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.
“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,” said the managing director and Group CEO for AD Ports Group, Capt. Mohamed Juma Al Shamisi.
He said the firm’s strategic investment in Tanzania in infrastructure and solutions will enable international companies to enter African markets. “In line with the direction of the UAE’s leadership, we are positioning Abu Dhabi as a global leader in logistics and industry,” he said.
According to CEO of Adani Ports and SEZ Ltd, Mr Karan Adani, the partnering with AD Ports Group will enable the development of key quality infrastructure in Tanzania especially in the ports and maritime sector.
“This will improve and bring about positive change in the communities, standing by our commitment to growth with goodness. We continue to support local employment, as well as general economic growth in Tanzania and East African countries that will benefit from our investments through the collaboration with AD Ports Group,” he said.
Established in 2006, AD Ports Group serves as the premier facilitator of logistics, industry, and trade, as well as a bridge linking Abu Dhabi to the world. Listed on the Abu Dhabi Securities Exchange, AD Ports Group’s vertically integrated business approach has proven instrumental in driving the emirate’s economic development over the past decade.