APM Invests in New Tema Port
- Business & Finance
A $1.5 billion investment in Ghana’s new port by APM Terminals and its partners is unconventional in its scope, and will have a major role to play in maintaining the pace of one of the world’s fastest growing countries.
The new port, build in the capital Accra, will be a modern multi-purpose facility located on what today is an undeveloped beach adjacent to the existing port.
It will make room for an initial 3.5 million TEU, have allocated space for a variety of terminal operators and eventually boast 17 berths for vessels of all types, including much larger container vessels than those it can handle today.
“This investment is unusual because of its size and the scope of the project,” says Peter Votkjaer Jorgensen, Head of Africa Port Investments for APM Terminals. “This is a long-term investment for us. It is an infrastructure package that will completely renew Ghana’s critical infrastructure and help the country support its expected future economic and population growth.”
The Tema port project includes dredging of the entrance channel & harbor basin in order to accommodate vessels with 16m draft, construction of a 3,850m long breakwater, reclamation of some 120 hectares of land for new container yard and other common user facilities as well as the expansion of the Accra-Tema Motorway which will require an additional $200-300 million in investment.
“We have been in Ghana for nearly ten years now, operating the current Tema port together with our partner Bolloré Africa Logistics. In that time we’ve developed a good relationship with the government, so they know how we do business and that they can expect us to not only deliver a world class port, but also operate it, professionally,” says Peder Sondergaard, Head of the Africa-Middle East region for APM Terminals.