APM Terminals announced that it has signed a memorandum of understanding (MOU) with the Government of Ghana, representing a private investment in excess of $1bn for the expansion of Tema Port, Ghana. The deal was signed through Meridian Port Services (MPS), a joint venture between Ghana Ports and Harbours Authority And Meridian Port Holdings Limited, which is in turn a joint venture with Bolloré Group and APM Terminals as the two main shareholders.
Approximately $145m has been invested in Tema Port since MPS was incorporated in 2007. In March 2014, the government of Ghana announced the proposed port upgrade and expansion programme to improve rail and roadway connections and expand capacity. Container throughput at MPS, which handles approximately 80% of Tema’s container volume, was 670,000 TEUs in 2013. The expansion is expected to increase the port’s annual container throughput capacity to 3.5m TEUs.
“MPS is a very successful private/ public partnership which has brought global trade to local shores. 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” said APM Terminals’ Africa-Middle East Regional head, Peder Sondergaard.
The expansion plans include the development of four deep water berths and an access channel able to accommodate larger vessels now entering the West African trade lanes. A six-lane modern highway will also be constructed between the port at Tema and Accra, to enhance the movement of cargoes into and out of interior points.
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