Construction is set to commence on a major US$137 million ship-repair and dry-docking facility at the Takoradi Port, marking a significant development in Ghana’s maritime, shipping and port infrastructure sector.
The project, known as Project Shiprite, is expected to strengthen Ghana’s position as a major maritime services hub in West Africa by providing specialised vessel maintenance and repair services to ships operating within the Gulf of Guinea.
The facility is being developed by Prime Meridian Docks Ghana under a 25-year concession agreement with the Ghana Ports and Harbours Authority (GPHA).
According to details of the project, the proposed shipyard will be equipped to accommodate and service vessels measuring up to 200 metres in length. This will enable shipping companies and vessel operators to access essential maintenance, repair and dry-docking services within the region.
Project Shiprite has reached financial close following the mobilisation of funding from a consortium of local and international investors, paving the way for the next phase of development.
The Private Infrastructure Development Group (PIDG), through its investment arm, InfraCo, has committed US$9.7 million in equity and shareholder financing to support the project.
The investment forms part of the broader financing arrangements for the US$137 million facility, which is expected to contribute to the expansion of Ghana’s maritime infrastructure and industrial capacity.
Once completed, the Takoradi ship-repair facility could reduce the need for vessels operating in the Gulf of Guinea to travel to distant international shipyards for maintenance and technical repairs.
The project is also expected to create opportunities for employment, technical skills development and increased private-sector investment in Ghana’s maritime industry.
Project Shiprite represents an important step towards positioning Takoradi Port as a competitive destination for ship maintenance, vessel repairs and dry-docking services across the Gulf of Guinea.
Source: newsthemegh.com