US$1.5 billion investment in new port in Ghana

Some US$1.5 billion is being invested in a new deep-water port and logistics hub in Tema, Ghana. The investment is being made by Meridian Port Services, a JV between APM Terminals, Bolloré Africa Logistics and the Ghana Ports and Harbour Authority. As well as the new port, an investment is also being made to upgrade of the adjacent road network.

Four deep-water berths, a new breakwater and an access channel able to accommodate the largest container ships will together provide a world-class port infrastructure that will add 3.5 million TEUs (20 ft equivalent units – the standard unit to describe cargo handling capacity) in annual throughput and create 5000 jobs.

“We are excited about how this port will contribute to Ghana’s future economy and emphasise APM Terminals’ strong commitment to Africa’s growth and development. Increased access to global markets is a key component of Africa’s ongoing economic growth, and the new, world-class port development which begins here today will help to put Ghana, and all of West Africa at the forefront of African global trade,” stated APM Terminals CEO Kim Fejfer.

In a separate project, APM Terminals and Bolloré Africa Logistics will upgrade the current highway between Accra and Tema to a six-lane modern highway along with improved connecting roads and access point to enhance the movement of cargoes into and out of the port of Tema and the hinterland.

“This massive investment highlights the confidence of investors into the country. It is a sign that Ghana is moving in the right direction and the journey will not end there. Expanding the port using superior infrastructure and modern, advanced technology will allow Ghanaian companies to compete for business in the most cost effective way,” said Kim Fejfer.

Adapted from press release by Katherine Guenioui

Read the article online at: https://www.worldcement.com/africa-middle-east/17062015/huge-investment-in-new-port-in-ghana-27/