Wed Nov 27 16:47:39 UTC 2024: ## Tanzania to Honor Adani Port Deal Despite US Indictment
**Dar es Salaam, Tanzania –** Tanzania will uphold its 30-year concession agreement with Adani Ports, a subsidiary of the Adani Group, to operate Container Terminal 2 in the Dar es Salaam port, despite a US indictment alleging bribery and fraud against Adani Group chairman Gautam Adani.
This decision comes in stark contrast to Kenya’s recent cancellation of a separate Adani Group infrastructure deal. Last week, a US court indicted Adani and his nephew, issuing arrest warrants related to a $265 million bribery scheme. While Adani Group denies the allegations, the Tanzanian Ports Authority Director General, Plasduce Mbossa, stated that Tanzania has “no problems” with the Adani deal and that it complies with Tanzanian laws and agreements. The agreement, signed in May, also includes a $95 million share purchase agreement for a 95% stake in Tanzania International Container Terminal Services. Mbossa emphasized that if any further actions are taken, they will be based on external reasons.
First Piper 