Business News of 2014-03-25

Tema Port to become biggest port in West Africa – Mahama

President, John Mahama has expressed the hope that the ongoing expansion works at the Tema Harbour will make it the biggest port in West Africa.

The President on Sunday inaugurated nine new gentry’ cranes at the Tema Port; an investment of nearly US$50million aimed at improving the efficiency of this terminal.

A post on his Facebook page described the Public-Private Partnership between Ghana Ports & Harbours Authority and Meridian Port Services as “one of the finest models of PPP that we have in our country.”

According to the President, the same PPP will be used to ensure that expansion work will soon begin at the Tema Port.

“It is estimated to cost between US$600 million and US$ 1 billion and, when achieved, it will make Tema the biggest and most efficient port not only in West Africa but probably in the whole of Africa,” the statement said.