Tema Port $1.5b Expansion to start in October
The proposed $1.5 billion Tema Port Expansion Project is to commence on October 1, 2016.
The project, when completed in 2019, would enable the Tema Port to handle thrice its current traffic of about one million Twenty-foot Equivalent Units (TEUS).
The expansion would also see the expansion of the Tema-Accra motorway into a six-lane road with service lanes to ease traffic flow from the port.
Mr Richard Anamoo, Director General of the Ghana Ports and Harbours Authority (GPHA), announced this on Wednesday at a press conference.
Mr Anamoo said the Meridian Port Services (MPS), has secured the required financing to execute the expansion project.
He noted that over the past four years all stakeholders have been consulted and the needed studies including environmental assessment carried out towards the expansion.
The project, he stated, would go a long way to make the Port more competitive and a gateway to Africa.
Mr Anamoo indicated that apart from the Ave Maria Resort which is to relocate, the project would not displace any resident.
He added however that his outfit was yet to agree on a compensation amount for the relocation of the Ave Maria Resort but gave the assurance that they were in talks to finalise it.
Mr Mohamed Samara, Chief Executive Officer of MPS, said a total of 120 hectares of land would be reclaimed from the sea.
Mr Samara added that a 3.85 kilometre breakwater which would be 19 meters and 250 meters deep and wide respectively, within a dredged port access channel would be also constructed.
He said his outfit has awarded the construction contract to the China Harbour Engineering Company Limited (CHEC) while AECOM Professional Services (Ghana) Limited would oversee the construction.
The MPS CEO indicated that an agreement was signed between his company and the International Finance Corporation (IFC), a member of the World Bank Group, for $667 million while MPS shareholders would provide the rest of the funding as fresh equity amounting to $333 million.
Mr Fiifi Kwetey, Minister of Transport, commended the GPHA and MPS for the initiative.
Source: GNA