Ghana Launches $235 Million Ship Repair and Berth Project at Takoradi Port

en.Wedoany.com Reported - On November 10, Ghanaian President John Dramani Mahama presided over the groundbreaking ceremonies for two port projects at Takoradi Port in the Western Region, with a total investment exceeding $235 million. Among them, the Project Shiprite ship repair facility developed by Prime Meridian Docks Ghana Limited involves an investment of $137 million under a 25-year concession model; the Ghana Ports and Harbours Authority (GPHA) is investing $98.41 million to construct Berth 19. The former is scheduled for completion within 18 months, while the latter has a construction period of 26 months.

Project Shiprite primarily involves the construction of a floating dry dock with a lifting capacity of 13,500 tonnes, a 200-meter-long operational quay, and supporting repair workshops. It will be capable of undertaking repair, periodic drydocking inspections, and emergency repairs for commercial vessels up to approximately 200 meters in length, serving cargo ships, offshore engineering vessels, and vessels operating along the Gulf of Guinea coast. The project is developed and operated by Prime Meridian Docks Ghana Limited, which has been granted a 25-year concession by the Ghana Ports and Harbours Authority. Once operational, vessels will be able to complete hull inspections, maintenance, and repairs within Ghana, eliminating the need for long voyages to shipyards in Europe, Namibia, or South Africa.

Project Shiprite has completed financial close, with total project capital of approximately $137 million, of which $94 million is senior debt financing from a syndicate led by the African Export-Import Bank, with participation from the African Development Bank, the Trade and Development Bank of Eastern and Southern Africa (TDB), and Petra Pension Schemes, among others. Equity funding is provided by investors including Prime Meridian Docks, the ARM-Harith Infrastructure Fund, and the Private Infrastructure Development Group (PIDG). PIDG is additionally providing $300,000 in technical assistance funding for the implementation of a 24-month training program for women in technical fields.

Berth 19 is being constructed with direct investment from the Ghana Ports and Harbours Authority, with a planned length of 300 meters and the capacity to accommodate vessels of 75,000 deadweight tonnes. The project primarily addresses the port's insufficient dry bulk cargo handling capacity, with a focus on serving mineral exports and clinker imports required for cement production. Takoradi Port has previously carried out dredging works, increasing the basin depth to approximately 16 meters. The new berth will work in conjunction with existing channel and basin conditions to accommodate larger vessels and increased bulk cargo transport demand. The project is funded from the port authority's own resources, differing from the concession and syndicated financing structure of Project Shiprite.

Project Shiprite is expected to create up to 430 direct jobs, of which approximately 30% are planned to be held by women; approximately 10% of project operating revenue is expected to flow to local subcontractors. The training funding provided by PIDG will be used for vocational skills training, professional qualification certification, and on-site practical experience to help local Ghanaian personnel enter positions in ship repair, mechanical maintenance, and technical services. The project is also expected to reduce the long-distance voyages required for West African vessels to reach shipyards in Europe and Southern Africa for repairs, lowering fuel consumption and vessel downtime.