Adani Ports inks MoU with AD Ports for Tanzania ventures

Adani Ports and SEZ Ltd (APSEZ) has signed a memorandum of understanding with Abu Dhabi-based AD Ports Group for joint investments in the infrastructure sector in Tanzania. The agreement makes way for joint investments in logistics infrastructure and solutions, including rail, maritime services, port operations, digital services, an industrial zone and setting up of maritime academies in Tanzania. Karan Adani, chief executive officer of APSEZ, 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.” Captain Mohamed Juma Al Shamisi, managing director and group chief executive of 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.” See also: Sri Lankan crisis to boost global trade logistics of India Leasing in logistics and industrial sectors fell by 9% YoY