The investment will be made by Meridian Port Services (MPS), a joint venture between APM Terminals (35%), Bolloré Africa Logistics (35%) and the Ghana Ports Authority and airports (30%).
According to Maersk, the deal signed in Accra, Ghana, last week is to upgrade APM existing terminal at the Tema Port and add 3.5 million twenty-foot equivalent units (TEUs) in annual throughput capacity.
The project will build four mooring facilities in deep water, a channel able to accommodate larger vessels and a highway linking the port to the Ghanaian capital Accra.
“Construction will include the building of four deep-water berths, a new breakwater and an access channel able to accommodate the world’s largest container ships. The project is expected to create more than 5000 jobs,” the company said.
“Improving access to international markets is a key factor of the economic growth that Africa is currently scoring, and transforming the Tema Port into a world class infrastructure will place Ghana and all of the West Africa in a good position on the map of international trade,” said the CEO of APM Terminals, Kim Fejfer.
According to Maersk’s CEO, his company is exploring investment opportunities in the oil and gas sector in Ghana. “First and foremost, we will be going in on the service sector and we are bringing in our drill ship worth about $700,000 million dollars and supply vessels and thugs and so we are ready to do business in Ghana.
About 70% of Ghana’s trade currently passes through the port of Tema, which is located on the Atlantic coast 25 kilometers east of Accra.