Dar es Salaam. Good morning! The Chanzo is here with a rundown of major news stories reported in Tanzania over the weekend.
Adani Ports in partnership with UAE’s AD Port secure 30-year concession to operate Container Terminal 2 at Dar es Salaam Port
Adani International Ports Holdings (AIPH) said it has signed a 30-year concession agreement to operate Container Terminal 2 (Berths Number 8 to 11) at the Dar es Salaam port.
In its announcement on May 31,2024, Adani Ports stated that a new company, East Africa Gateway Limited (EAGL), has been formed. This joint venture includes Adani International Ports Holdings (AIPH), UAE firm AD Ports Group, and East Harbour Terminals Limited (EHTL).
The new company has also acquired 95 percent of the shares from Tanzania International Container Terminal Services Limited (TICTS) for USD 39.5 million. TICTS own key installations at the Dar es Salaam port as it had operated Container Terminal 2 for twenty-two years before Tanzania decided not to renew the contract in 2023.
Read the full article here
South Korea commits $2.5 billion to Tanzania through Economic Development Cooperation Fund (EDCF)
South Korea has increased its loan commitment to Tanzania to $2.5 billion, accessible through the Korea Economic Development Cooperation Fund (EDCF).
This was revealed on June 02, 2024, following the meeting between President Samia Suluhu and Korean President Yoon Suk Yeol at the Yongsan Presidential Office in Seoul, South Korea
The EDCF, established by the South Korean government on June 1, 1987, aims to promote economic cooperation between South Korea and developing countries. Tanzania has so far received $974.14 million in loans from this fund.
The recent support from the EDCF includes a $135 million loan approved in January 2023. This funding includes $65 million for the Improvement of National Land Data Infrastructure Project. A Korean company will create Tanzania’s national basic map and land information management system, supply ICT equipment and technology, and establish a foundation for the efficient use of land and resources.
Additionally, the loan will support the second phase of the National ID System Expansion Project with $70 million. Korean companies will construct the data center for the National ID system project, enhancing Tanzania’s national identification capabilities.
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