Tanzania’s Dar es Salaam port seeks global investor

Tanzania’s Dar es Salaam port seeks global investor

The government of Tanzania has announced plans to start a process of acquiring a competent global investor to run operations of the country’s major port of Dar es Salaam.

As reported by Chinese state media Xinhua, the Minister of Works and Transport Makame Mbarawa told the parliament that the preferred investor should meet international standards for the port to be more competitive.

The process to acquire the investor was announced after Members of Parliament had earlier in the day urged the government to privatize operations of Dar es Salaam port to enhance its efficiency.

“We want the investor to meet international standards for the port to be more competitive, come up with a permanent solution on cargo shipping from point of origin to the client as well as be able to address cargo clearance challenges,” he said.

READ: Brazil ditches Port of Santos privatisation

According to Mbarawa, the investor must be an international company with a proper network and vast experience in the shipping industry as well as capable of securing new markets.

He said hiring the private sector in the operations of the port is a phenomenon that is unavoidable in the current world where many countries have invested in private companies to run port operations.

Earlier in January, Israel’s Finance Ministry announced the successful full privatisation of Haifa Port.

A joint venture of Indian giant Adani Ports and Special Economic Zone Limited (APSEZ) and Israeli company Gadot Chemical Terminals completed the purchase for 4 billion shekels ($1.15 billion).

In August of last year, AD Ports Group signed a Memorandum of Understanding (MoU) with Hutchison Ports to extend the companies’ business reach globally.

As per the MoU, AD Ports and Hutchison Ports will identify joint investment and business opportunities related to feedering, logistics, and port activities across the Gulf Cooperation Council (GCC), Africa, and Asia.

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