A concession is an agreement or grant made by a government, organization, or individual that allows a party to engage in certain activities or use specific resources. It often involves the transfer of rights or privileges, typically in exchange for something of value, such as a fee or revenue sharing. Concessions are commonly seen in various sectors, including business, public services, and international relations. For example, a government might grant a concession to a company to operate a public utility or exploit natural resources, allowing the company to manage and benefit from those resources while adhering to specific regulations and obligations. In negotiations, making a concession usually refers to giving up a demand or position to reach a compromise or agreement.
Adani International Ports, a subsidiary of Adani Ports and Special Economic Zone Ltd. (APSEZ), has recently sealed a 30-year concession agreement to operate Container Terminal 2 (CT2) at Dar-es-Salaam Port.…