EMEA News
$1.5 Billion Ghana Port Expansion will make it the Largest Port in West Africa
A planned $1.5 billion expansion of Ghana's Port of Tema will make it the largest port in West Africa, the JOC reports.
The expansion will also go hand in hand with upgrades to Takoradi, the country's current largest export facility, with $423 million slated for upgrades between both projects.
All in all, the changes will triple the capacity of the Port of Tema to 3.5 million TEUs, according to the Ghana Ports and Harbours Authority (GPHA).
Expansion is also especially welcomed in light of a 64 percent rise in container volume over the last decade, according to the GPHA, which has led to congestion issues in recent times.
The hope is that the modifications will transform Tema into an oil and gas hub, with a 130,000-acre plot of land adjacent to the current facility to be used for container and bulk handling.
The project, funded by Meridian Port Services, APM Terminals and Bollore Africa Logistics, is slated to begin early 2015, with hopes of completion by 2019.
Upgrades at Takoradi are expected to proceed through to 2018.
It was reported early this year that the Ghana bunkering industry is suffering from lack of investment, having experienced a gradual decline in quality of services since major oil companies such as Shell Ghana and Total Ghana sold their shares in Ghana Bunkering Services over a decade ago.
