He said under the Chinese Development Bank loan facility, government would also embark on the Sekondi-Takoradi industrial city project, to create more job opportunities in the western side of the country.
President Mahama said this when he broke the grounds for $197 million- dollar project in Takoradi.
The expansion project would among other benefits take in modern, bigger and deep- drafted vessels reduce ship turnaround, time and also provide service and logistics base for the oil field.
The facilities include; break water extension, dredging to 16 chart datum, reclamation, and bulk cargo handling berths for manganese, bauxite, and clinker.
Expansion would also facilitate the segregation of bulk cargo operation from containerised and unitised cargo operation by providing separate bulk handling terminals.
The ceremony attracted former President Jerry John Rawlings, Ministers of State, Members of Parliament, the business community and supporters of the National Democratic Congress.
President Mahama said while the railway lines would facilitate the movement of goods and services within the country, the Sekondi-Takoradi industrial city project would establish the Atuabo Oil Port.
The President said the industrial city project would also revive and rehabilitate the western railway lines and develop the Sekondi Takoradi free zone enclave.
Mrs Dzifa Attivor, Minister of Transport, said the expansion project was in response to the demands of the business community to ease traffic congestion at the port and to re- position the port as the one-stop terminal for maritime, petroleum and oil and gas businesses.