Meridian Port Services (MPS), a joint-venture between APM Terminals (APMT), Bolloré Africa Logistics, and the Ghana Ports and Harbour Authority (GPHA), will invest US$1.5 billion in a new 3.5 million TEU deep-water port and logistics hub in Tema, Ghana.
APMT has recently verified its plans to increase its investment within Poti Seaport, in a bid to build on the port as a prominent gateway for the Black Sea.
The Port of Tema upgrade consists of both a new greenfield port outside the present facility and an upgrade of the adjacent road network.
The project will also result in four deep-water berths, a new breakwater and an access channel able to accommodate the world’s largest container ships.
Kim Fejfer, CEO of APMT, said: “We are excited about how this port will contribute to Ghana’s future economy and emphasise 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.”
In a separate project, APMT 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.
In November 2014, an initial memorandum of understanding was signed by MPS and the GPHA for the expansion plans. The joint-venture share is comprised of APMT, who has a 35% share, Bolloré, who also hold 35%, and the GPHA, which owns 30%.
Kim Fejfer continued: “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.”
The International Monetary Fund has projected Ghana’s economy to expand by 3.5% in 2015 and by 6.4% in 2016. Container ship industry analysts have estimated overall African containerised cargo handling to have increased by 7.2% in 2014, as compared with an overall global growth rate of 5.4%.
Along with its plans for Tema Port, APMT recently opened it Maasvlakte II container terminal in Rotterdam, The Netherlands – one of the most technologically advanced container terminals in the world.