Ghanaian port secures $1.5 billion funding


A US$1.5 billion expansion project is to begin in early 2015 at the Port of Tema, South Ghana, after the Ghana Ports and Harbours Authority successfully secured funding for its expansion.

The project will take four years to complete and will involve building four deep water berths and an access channel to accommodate larger vessels.

This will create a capacity of 3.5 million TEU annually, making Tema Port the largest cargo port in West Africa, according to Citi FM Online.

Currently, the Tema Port has a capacity of around one million TEU.

In addition to deep water berths, a road component will be implemented to expand the Accra-Tema Motorway into three lanes in each direction in order to promote easy access to the port.

A group of container terminal operators, led by Meridian Port Services, is funding the project under a public-private-partnership programme.

Other investors include APM Terminals and its partner, Bolloré Africa Logistics, Africa’s leading integrated logistics network.

Once completed, the project aims to connect Ghana to the global market, thereby increasing its competitiveness, leaving the region open for new business opportunities.

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