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Ghana container terminal jv gets $1.5bn go-ahead

Ghana container terminal jv gets $1.5bn go-ahead
APM Terminals (AMPT), Bolloré Africa Logistics, and Ghana Ports and Harbour Authority jv Meridian Port Services (MPS) is building a new 3.5m teu port in Tema, Ghana, for $1.5bn.

The new facility will comprise four deepwater berths, with a dredged access channel “to accommodate the world’s largest container ships” according to a statement by APMT, and is expected to employ 5000. The $1.5bn project will also include an upgrade of the local road networks around the port.

Additional funding has also been set aside for upgrading the current road between Accra and Tema into a six-lane motorway along with improved connecting roads and access points, to facilitate the smooth movement of cargo between port and hinterland. Speaking of the road upgrade, APMT ceo Kim Fejfer said: “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.”

Shared 35% by APMT, 35% by Bolloré and 30% by Ghana Ports & Harbours Authority, MPS handled 651,000 teu in 2014 at its existing container facility, which is close to maximum utilization. “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 Fejfer.  We are excited about how this port will contribute to Ghana’s future economy and emphasize APMT’s 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.”

Citing recent economic difficulties in Ghana, shared by many West African nations, Fejfer continued: “Despite recent challenges, Ghana is a success story as a country. Well-educated, skilled people, stable and business-oriented government – and therefore an obvious choice for APMT to create a new, stronger gateway.”