$1.5 billion mobilized for Tema Port expansion project

$1.5 billion mobilized for Tema Port expansion project

Sept 06, 2016: Meridian Port Services (MPS) says an amount of USD 1.5 billion has been secured by it for the expansion of Ghana’s Tema Port project. The project is likely to boost trade flows and links across West Africa.

MPS Limited is a joint venture between the Ghana Ports and Harbours Authority and Meridian Port Holdings Limited, with Bolloré Transport & Logistics and APM Terminals as the two main shareholders.

MPS is executing the project within the GPHA Master Plan for the development of Tema Port.

It has made great achievements under the Concession Agreement which was granted in 2004.

With the completion of the project, Tema Port will be able to accommodate some of the world’s largest container ships, and improve cargo handling services and capacity thus enhancing the Port’s competitiveness, and position it as a leading maritime hub in the , and position it as a leading maritime hub in the West African region.

The package includes $195 million from the IFC’s own account and $472 million from three commercial banks: the Bank of China, the Industrial and Commercial Bank of China, and Standard Bank, as well as the Dutch development bank, FMO. The financing package for the construction of a new Port in Tema is IFC’s largest port investment and biggest infrastructure mobilization to date in Sub-Saharan Africa.

Related Posts

Ethiopian Airlines orders five more Bombardier Q400 aircraft

Ethiopian Airlines orders five ...

24 Jun, 2017: Ethiopian Airlines has signed a firm purchase agreement for five additional Bombardier Q400 turboprop aircraft. The ...

DP World joins hands with Masdar’s green energy solutions for Africa and the Middle East ports

DP World joins hands with Masd ...

Jun 23, 2017: Dubai-based DP World and Abu Dhabi’s renewable energy company Masdar, have entered into a Memorandum of Unders ...

China Southern Airlines and Etihad Airways enter into codeshare agreement

China Southern Airlines and Et ...

Jun 23, 2017: The Abu Dhabi-headquartered Etihad Airways, and China Southern Airlines, Asia’s largest airline, have announce ...

New Port of Ghoubet opens for operations

New Port of Ghoubet opens for ...

Jun 23, 2017: Djibouti has opened the new $64 million Port, Port of Ghoubet. This is the third of the four ports designed to boost ...