APMT commits to Ghana

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APM Terminals (APMT) is investing US$1.5bn in an upgrade of the Port of Tema including a new Greenfield port, marking its commitment to Africa.

APMT is committing US$1.5bn in Ghana's port of Tema

The new project at Tema, Ghana’s most important port, will result in four deep-water berths, a new breakwater and an access channel able to accommodate the world’s largest container ships. APMT says this will provide world-class port infrastructure to support the country’s economic growth, adding 3.5 million teu in annual throughout capacity.

“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,” said Kim Fejfer, CEO, AMPT. “Increased access to global markets is a key component of Africa’s ongoing economic growth, and the new, world-class port development which begins here today will help to put Ghana, and all of West Africa at the forefront of African global trade,” he added.

In a separate project, the terminal operator is teaming up with Bolloré Africa Logistics to upgrade the current highway between Accra and Tema to a six-lane modern highway along with improved connecting roads and access point to enhance the movement of cargoes into and out of the Port of Tema and the hinterland.

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

The International Monetary Fund has projected an annual economic growth rate of 4.5% for Sub-Saharan Africa in 2015, and 5.1% in 2016, following a 5% GDP expansion in 2014. The IMF has projected Ghana’s economy to expand by 3.5% in 2015 and by 6.4% in 2016. Container ship industry analysts have estimated overall African containerized cargo handling to have increased by 7.2% in 2014, as compared with an overall global growth rate of 5.4%. African port container volumes are forecast to continue to increase well above the global market.