APM Terminals invests $1bn on Ghana port expansion

APM Terminals has signed a $1 billion MoU to add four deep-water berths to the Ghanaian port of Tema, increasing capacity to 3.5 million TEU per annum.

The deal, agreed between the Government of Ghana and joint venture company Meridian Port Services (MPS) – made up of APM Terminals, Bolloré Africa Logistics (a.k.a Meridian Port Holdings), Ghana Ports and Harbours Authority (GPHA) – includes the dredging of the port’s access channel as well as the aforementioned berths.

Further, a six-lane highway is to be constructed between the port at Tema and the interior port of Accra.

While throughput at MPS, which handles 80% share of Tema’s cargo, was 670,000 TEU in 2013, the expansion would increase annual capacity at the port to 3.5 million TEU.

Since MPS began in 2007, $145 million has been invested in the port, and the Ghanian Government proposed port upgrade and expansion program to improve rail and roadway connections and expand capacity.

“MPS is a very successful private/public partnership which has brought global trade to local shores,” said regional head of APM Terminals Africa-Middle East, Peder Sondergaard. “APM Terminals looks forward to take the next step to drive the development of a world class port expansion which can serve the country of Ghana in the coming decades.”

MPS chairman Alhaji Banda said: “I’m extremely proud to participate in this historic ceremony graced by His Excellency the President, to witness the signing of the MOU for the development of a new container terminal within the GPHA master plan for Tema Port.

“This indeed demonstrates the level of commitment that His Excellency has to the Tema Port Development, which acts as a real economic driver for the country and the Sub-Saharan Region.”

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