Maersk Confirms $1.5bn for Ghana Port
The Maersk Group has reaffirmed its commitment to support the expansion of Ghana’s Port of Tema to the tune of US$1.5 billion.
The Group Chief Executive Officer of the multinational transport and energy giant Maersk Group, Nils Smedegaard Andersen, has re-assured of the company’s readiness to inject US$1.5billion to boost the ongoing expansion works at the Tema Port.
The Maersk Group’s subsidiary, APM Terminals, signed a memorandum of understanding (MoU) with the government of Ghana in November last year to expand the Tema Port.
Andersen said funding arrangements for the project have been secured pending the signing of a concession agreement between Maersk’s key partner Meridian Ports Services (MPS) and the Ghana Ports and Harbours Authority (GPHA).
The proposed project is expected increase by four-fold the current capacity of Tema Port, the country’s busiest sea-port, and also improves road access to the port including developing the motorway to a six-lane one.
The Ghana Ports and Harbours Authority and Meridian Ports Services signed a memorandum of understanding (MoU) in November last year to expand Tema Port to enable management contain the pressure brought by continuous growth in trade over the last five years.
Andersen reportedly also assured government that his company would contribute its quota in the US$6 billion oil exploration work to be undertaken by Italian firm Eni Exploration.
Anderson revealed that Maersk was exploring oil and gas investment opportunities in Ghana, adding, “First and foremost, we will be going in on the service sector and we are bringing in our drillship worth about US$700,000, and supply vessels and tugs. We are ready to do business in Ghana.”
