Tema, November 24, 2014 (STAT):– APM Terminals has signed a Memorandum of Understanding (MOU) with the Government of Ghana.
The agreement represents a private investment in excess of USD $1 billion for the expansion of Tema Port. The deal was signed through Meridian Port Services (MPS), the joint venture between APM Terminals, Bolloré Africa Logistics (Meridian Port Holdings) and the Ghana Ports and Harbours Authority (GPHA).
MPS Chairman Alhaji A. A. Banda commented, “I’m extremely proud to participate in this historic ceremony graced by His Excellency the President, to witness the signing of the MOU for the development of a new Container Terminal within the GPHA Master Plan for Tema Port. This indeed demonstrates the level of commitment that His Excellency has to the Tema Port Development, which acts as a real economic driver for the country and the Sub-Saharan Region.”
The Government of Ghana announced the proposed port upgrade and expansion program to improve rail and roadway connections and expand capacity in march 2014 The expansion will increase the port’s annual container throughput capacity to 3.5 million TEUs.
Peder Sondergaaard, APM Terminals Africa-Middle East Regional head said, “MPS is a very successful private/public partnership which has brought global trade to local shores. APM Terminals looks forward to take the next step to drive the development of a world class port expansion which can serve the country of Ghana in the coming decades”