The Tema port expansion in Ghana receives US$1.5bn finance boost

The Tema port expansion in Ghana has received a US$1.5bn finance boost. This was revealed during the signing of the 35-year Concessionary Agreement between the Ghana Ports and Harbours Authority (GPHA) and the Meridian Port Services, (MPS). It was during the event that the funds were handed over to the GPHA to carter for the expansion works.
Present at the signing event held in Accra was the Transport Minister Dzifa Attivor who described the project as a breakthrough to efficiency making the Tema port more productive and competitive for the country’s economy to rely on.
The expansion will mould the Tema port into a multi-purpose facility that will include a 4 container berths which will be contained on a 1.4km quay. On the other hand a 16m draft and a 3.85km breakwater will be made along the dredged port access channel which will be 19m in depth with a 250m width to host giant vessels. This will be an opportunity to increase the imports and exports business.
However, the Tema port project will create 5000 employment opportunities for the first phase of the expansion project scheduled for completion within a 3years period. On completion the project will free the port from heavy congestion said Samuel Ofosu-Ampofo the authority Board Chairman.
The port construction primarily commenced in 1962, with initial construction works of a rail line terminal for easy movement of cargoes to and from the port via the rail. In fact a highway will be introduced between Accra and Tema that will consist of a six-lane modern highway aimed at connecting the roads and access point to improve the movement of cargoes into and out of the port and the hinterland. The highway will be upgraded by the APM Terminals and Bolloré Africa Logistics.