Wholly-owned Ghanaian investment firm, IBISTEK Limited, has announced plans to build and operate a multi-purpose on-dock terminal that will help drive up traffic to the country’s exports-based seaport.
The construction of the terminal is expected to shore up the cargo throughput capacity of the Takoradi Port to about one million total enclosed units (TEUs) from the current average of about 63,000.
This follows the acquisition of a concessionary permitfrom the Ghana Ports and Harbours Authority (GPHA)to develop and operate a multi-purpose container terminal at the country’s exports-led seaport.
The deal, which spans a period of 25 years, aligns with the GPHA’s Master Plan to develop and reposition the port to meet increasing demand and to create much needed jobs.
Briefing journalists in Takoradi, Project Technical Consultant, Capt. James Owusu Koranteng, indicated that the new terminal will significantly enhance the capacity of the Takoradi Port.
He said: “This is a project that will open up the port community in terms of cargo throughput, job creation and positioning the Takoradi Port as a preferred business destination.
“We are currently looking for an operator who has the capacity and international presence; we are set to go as soon as the remaining paperworks are done.”
Lead financial arranger for the project, African Development Bank (AfDB), will release US$106 million and raise the remaining US$316 million from interested investment firms.
Kwame Gyan, Chairman and Director of IBISTEK, said the company is looking for possible ways of partnering UK firms in developing the water front development project at the Takoradi Port.
“We are looking at the possibilities of British firms partnering with us in the construction and, more particularly, in the supply of equipment for the facility” he said.
Considering the relatively low cargo throughput for the Port of Takoradi, the construction of a multi-purpose container terminal should be seen as a national development agenda for accelerated growth of trade volumes through the Western Region.
Acting Director-General of GPHA, Paul Asare-Ansah, indicated that IBISTEK’s multi-purpose terminal will make Takoradi Port more competitive within the sub-region and also play a pivotal role in the country’s economic development process.
“It is a good step that we have taken for the Port of Takoradi and it is a project that will uplift the status of Takoradi Port to compete favourably with other ports in the sub region. Takoradi Port will position itself as the gateway for development into the western parts of Ghana,” he said.