The Ghana Ports and Harbours Authority (GPHA) has signed a concession agreement with Ghanaian liability company IBISTEK Limited to develop and operate a new US$370 million container and multi-purpose terminal at the Port of Takoradi.
The concession term is for the next 25 years and construction of the new terminal aims to make the port more competitive with other ports in the sub-region.
According to a GPHA spokesperson, it is also expected to play a pivotal role in the country’s economic development as well as create over 2 000 direct and indirect jobs.
“Considering the relatively low cargo throughput for the Port of Takoradi, this project should be seen as a national development agenda for accelerated growth of trade volumes through the Western Region,” said the acting director general of GPHA, Paul Ansare Ansah.
“Takoradi Port will position itself as the gateway for development into the western parts of Ghana,” he added.
Director of IBISTEK Limited, Kwame Gyan, noted that funding for the facility was expected to come from various lending agencies and would be led by the African Development Bank.
The GPHA pointed out that it had already contracted major loans to prepare the basic port infrastructure for development prospects.
