ACCRA: APM Terminals, the container terminal operating unit of Maersk Group, and its partners have sealed a massive $1.5 billion investment in Ghana in what is viewed as a strong show of support for the West African nation and to Africa’s growth and development as a whole.
The investment will be made by APM Terminals through Meridian Port Services, a joint venture between APM Terminals, Bolloré Africa Logistics, and the Ghana Ports and Harbour Authority.Plans for the investment were first made in November 2014.
The funds will be used to upgrade APM Terminals’ existing terminal in Tema Port and add 3.5 million TEUs in annual throughput capacity.
The new project consists of both a new greenfield port outside APM Terminals’ present facility and a needed upgrade of the adjacent road network, APM Terminals says. 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 also expected to create more than 5000 jobs.
“We are excited about how this port will contribute to Ghana’s future economy and emphasize APM Terminals’ 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,” stated APM Terminals CEO Kim Fejfer during a formal signing ceremony held Friday by His Excellency John Dramani Mahama, the President of the Republic of Ghana.
