The African Development Bank has approved a $23.04 million loan to fund the construction of a modern floating dock ship repair facility in Western Takoradi port, Ghana.
The project is estimated to cost $137 million will involve constructing a 200-meter jetty, dredging 300,000 cubic meters of rock in the port basin and procuring and installing a 13,500-tonne lift capacity floating dock.
The Floating dock ship repair facility will also have offices, a warehouse, mechanical workshops for steel and pipe fabrication, electrical works, blasting and painting and equipment maintenance.
The loan will support the company to design, build, operate and maintain a world-class ship repair and maintenance facility in the Gulf of Guinea under a 25-year concession granted to the company by the Ghana Ports and Harbours Authority.
Construction of the Takoradi modern floating dock ship repair facility will enhance the resilience of the ocean economy in Ghana
The construction of the floating dock will enhance the resilience of the ocean economy in Ghana and mitigate the carbon footprint from an expected increase in vessel flow, promoting the use of renewable energy, energy efficiency and slow vessel steaming.
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This aligns with the International, Maritime Organization’s best practices and Ghana’s Nationally Determined Contributions, making the project Paris Aligned.
African Development Bank, Director for Infrastructure, Cities and Urban Development, Mike Salawou said, “Vessel repair and maintenance is an undeserved market on the continent. Investing in it will provide a more holistic approach to supporting maritime transport and its sustainability, which will accelerate regional integration and attract international trade and economic activity.”
The modern floating dock ship repair facility will contribute to creation of jobs, bridging inequality gaps and supporting the overall macroeconomic stability in Ghana.
The project aligns with Ghana’s national ambition to become a hub for shipping and petroleum operations in West Africa. By enhancing the supply of maritime maintenance and repair services, the project will help minimize transport and logistics costs and time, resulting in increased mobility and connectivity and boosting Ghana’s competitiveness.
