Adani Ports and Special Economic Zone Ltd. and Abu Dhabi Ports have agreed to invest in logistics infrastructure in Tanzania.
The two companies will jointly invest in end-to-end logistics infrastructure and solutions including rail, maritime services, port operations, digital services, an industrial zone, and the establishment of maritime academies in Tanzania, according to an exchange filing.
“Our strategic investment in Tanzania in infrastructure and solutions will enable international companies to enter African markets," Mohamed Juma Al Shamisi, managing director and group chief executive officer of AD Ports, said.
The investments aim to make Tanzania a hub for the African region.
"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," said Karan Adani, chief executive officer of Adani Ports and SEZ.
Disclaimer: Adani Enterprises is in the process of acquiring a 49% stake in Quintillion Business Media Ltd., the owner of BQ Prime.
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