Wednesday, December 7, 2022

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AD Ports, Adani Ports, SEZ sign MoU for Joint Infra Investments in Tanzania

New Delhi: AD Ports Group, the leading facilitator of global trade, logistics, and industry, has signed a Memorandum of Understanding (MoU) with Adani Ports and SEZ Ltd, India’s largest integrated ports and logistics company, for strategic joint investments in end-to-end logistics infrastructure and solutions, which include rail, maritime services, port operations, digital services, an industrial zone and the establishment of maritime academies in Tanzania.

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.

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Capt. Mohamed Juma Al Shamisi, Managing Director and Group CEO, AD Ports Group, said: “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.”

“Our 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.”

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Karan Adani, CEO of Adani Ports and SEZ Ltd, said: “We are pleased to be partnering with AD Ports Group in the development of key quality infrastructure in Tanzania especially in the ports and maritime sector, which 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.”

About AD Ports Group

Established in 2006, AD Ports Group today serves as the region’s 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 (ADX: ADPORTS), AD Ports Group’s vertically integrated business approach has proven instrumental in driving the emirate’s economic development over the past decade.

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Operating several clusters covering Ports, Economic Cities & Free Zones, Maritime, Logistics, and Digital, AD Ports Group’s portfolio comprises 10 ports and terminals, and more than 550 square kilometres of economic zones within KIZAD and ZonesCorp, the largest integrated trade, logistics, and industrial business grouping in the Middle East.

AD Ports Group is rated A+ by S&P and A+ Outlook Stable by Fitch.

About Adani Ports and Special Economic Zone Ltd.

Adani Ports and Special Economic Zone Ltd (APSEZ), a part of the globally diversified Adani Group, has evolved from a port company into India’s largest integrated transport utility. It is the largest port developer and operator in India with 12 strategically located ports and terminals — Mundra, Dahej, Tuna and Hazira in Gujarat, Dhamra in Odisha, Mormugao in Goa, Visakhapatnam and Krishnapatnam in Andhra Pradesh, Dighi in Maharashtra and Kattupalli & Ennore in Chennai— representing 24% of the country’s total port capacity, handling vast amounts of cargo from both coastal areas and the vast hinterland.

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The company is also developing transhipment ports at Vizhinjam, Kerala and Colombo West International Terminal (CWIT) in Sri Lanka. Our “Ports to Logistics Platform” comprising our port facilities, integrated logistics capabilities, and industrial economic zones, puts us in a unique position to benefit as India stands to gain from an impending overhaul in global supply chains.

Our vision is to be the largest ports and logistics platform in the world in the next decade. With a vision to turn carbon neutral by 2025, APSEZ was the first Indian port company and the third in the world to sign up for Science Based Targets Initiative (SBTi) committing to emission reduction targets to control global warming at 1.5°C above pre-industrial levels. For more information please visit www.adaniports.com

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