Indian billionaire expands Dar port interest with Ticts acquisition
Indian firm, Adani International Port Holdings Pte Limited (AIPH), owned by business magnate Gautam Adani, is on a move to expand its business interests in Dar es Salaam Port with a new acquisition of Tanzania International Container Terminal Services Limited (Ticts).
On February 6, 2023, through a government paper, the Fair Competition Commission (FCC) issued a public notice that it had received a notification from East Africa Gateway Limited (the acquiring firm), a subsidiary of AIPH, to acquire the entire issued ordinary share capital in Ticts.
The public notice said that the "FCC has begun the review and investigation of the intended acquisition with a view to examining whether it is likely to harm competition."
East Africa Gateway Limited (the acquiring firm) is a United Arab Emirates (UAE)-incorporated company that has yet to establish operations in Tanzania; however, its parent company, AIPH, is already engaged in port and marine business within the country.
The AIPH currently runs four container handling berths (8 to 11) as a service provider at the Dar es Salaam Port, after the expiration of their five-year contract between the Tanzania Ports Authority (TPA) and Ticts, which is also a subsidiary of Hong Kong's Hutchison Port Holdings Ltd.
In the words of Helen Keller, "Alone we can do so little; together we can do so much." ?? This venture by Gautam Adani into Tanzania exemplifies the power of collaboration in transforming landscapes, much like our mission with the upcoming sponsorship opportunity for the Guinness World Record of Tree Planting ??. Together, let's make history. Learn more here: https://bit.ly/TreeGuinnessWorldRecord
Thrilled to see Gautam Adani's vision expanding into Tanzania! ??? As Walt Disney said, "All our dreams can come true if we have the courage to pursue them." This move not only promises growth for AUPH but also for Tanzania's maritime industry. ???? #Inspiration #Growth #DreamBig
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1 年Well done, sister. I lam proud of you. Keep it up. Hello from The Gambia.