APM Terminals has partnered with Bollore Africa Logistics and the Ghana Ports and Harbour Authority (GPHA) to invest US$1.5 billion in a new deep-water port and logistics hub in Tema, set to transform the African nation’s economy. 

The Tema project was formally signed in Ghana during a recent ceremony and will result in four deep-water berths, a new breakwater and an access channel to accommodate the world’s largest container ships.

In addition there will also be an upgrade of the adjacent road network.

"We are excited about how this port will contribute to Ghana’s future economy and emphasize APM Terminals’ strong commitment to Africa’s growth and development," says APM Terminals CEO Kim Fejfer.

"Increased access to global markets is a key component of Africa’s ongoing economic growth, and the new, world-class port development which will help to put Ghana, and all of West Africa at the forefront of African global trade."

ATM Terminals say the project will create around 5,000 new jobs and will add 3.5 million TEUs (twenty-foot equivalent units) in annual throughput capacity.

Separately, APM Terminals and Bollore Africa Logistics will upgrade the current highway between Accra and Tema to a six-lane modern road system with improved connections and access points to enhance movement of cargoes in and out of the port of Tema.

An initial Memorandum of Understanding was signed by Meridian Port Services (MPS) and GPHA in November 2014 and over the last five months MPS and the Ghanaian government have been finalizing preparations.

"This massive investment highlights the confidence of investors into the country. It is a sign that Ghana is moving in the right direction and the journey will not end there," Fejfer said.

"Expanding the port using superior infrastructure and modern, advanced technology will allow Ghanaian companies to compete for business in the most cost effective way."

Like several other African countries, Ghana has recently experienced some challenges to its economy with the situation being managed by the government, supported by the International Monetary Fund (IMF).

Part of the program to secure sustainability is to encourage private investment in infrastructure such as power production, roads and ports.

"Despite recent challenges, Ghana is a success story as a country. Well-educated, skilled people and a stable and business-oriented government, and therefore an obvious choice for APM Terminals to create a new, stronger gateway," adds Fejfer.

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