APM Terminals agrees 1 bln dollars port expansion in Ghana - CNBC Africa

APM Terminals agrees 1 bln dollars port expansion in Ghana

Western Africa

by Reuters 0

APM Terminals to expand Tema Port in Ghana. PHOTO: panoramio

This is to expand its Tema Port.

APM Terminals, , a unit of shipping and oil conglomerate A.P. Moller-Maersk, said the agreement included a "private investment" in excess of 1 billion dollars by Meridian Port Services of which APM Terminals controls 35 per cent.

"Both in the short- and long-term view we see Ghana as a country with great potential," Peder Søndergaard head of Africa and Middle East activities in APM Terminals told Reuters.

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Meridian Port Services (MPS) is a joint venture between APM Terminals, Bolloré Africa Logistics and the Ghana Ports and Harbours Authority.

MPS handles approximately 80 per cent of all containers in Tema Port which has a container volume of 670,000 twenty-foot equivalent (TEU) unit in 2013.

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. A six-lane highway will also be constructed between the port at Tema and Accra.

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70 per cent of Ghana's national trade and traffic currently goes through Tema Port.

The expansion will increase the port’s annual container throughput capacity to 3.5 million TEU.

APM Terminal is the largest port and terminal operator in Africa. Globally The Hague-based company is operating 64 container terminals.