Bolloré Transport and Logistics CEO visits Tema Port expansion site
The Chief Executive Officer (CEO) of the Bolloré Transport and Logistics, Cyrille Bolloré, has visited the Tema Port expansion site to monitor the progress of work.
The Tema Port Expansion project is designed to provide a world-class harbour infrastructure for the next 100 years, and currently remains the largest port investment in Sub-Saharan Africa.
When completed, the port is expected to boost economic growth and trade revenues for local companies with an estimated US$ 1.1 billion.
Similarly, the project is expected to create about 450, 000 indirect jobs and also boost the local economy.
Cyrille Bolloré was toured around the project site by the CEO of Meridian Port Services (MPS), Mohamed Samara and some senior officers of the company.
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This was contained in a press statement issued by Mr Samara on Thursday, July 12, 2018.
MPS is a joint venture between Ghana Ports and Harbours Authority and Meridian Port Holdings Limited, which is, in turn, a joint venture with Bolloré Transport and Logistics and APM Terminals as the two main shareholders.
The Company engages mainly in Container Terminal Operations including container stevedoring, shore handling as well as storage and delivery.
The MPS is executing the port expansion project (terminal three), which involves the building of a 3.5-kilometre breakwater and an access channel harbouring 16 metres deepwater berths to accommodate larger vessels with sophisticated port handling equipment.
In line with the project, about 127 hectares of land has so far been reclaimed from the sea.
Under the arrangement, the MPS is expected to complete two berths by June next year for operations to start and continue work on the next two berths in 2020.
The project is being financed by MPS and its partner, the Ghana Ports and Harbours Authority (GPHA), through the International Finance Corporation (IFC).
Below is the full statement:
12th July 2018
One year from the commercial go-live: Cyrille Bolloré, CEO of Bolloré Transport & Logistics visits the port of Tema in Ghana
Cyrille Bolloré, CEO of Bolloré Transport & Logistics, has visited the Port of Tema in Ghana, He was hosted by Mohamed Samara, CEO of Meridian Port Services (MPS) and senior executives of the Group. Less than a year from the commercial go-live planned on June 28, 2019. His visit was to monitor the work progress of the project, which remains the largest port investment of the Atlantic coast of Africa.
The visit came nearly a month after MPS, the joint venture consisting of Bolloré Transport & Logistics, APM Terminals and the Government of Ghana through the Ghana Ports and Harbours Authority (GPHA), drew its first $ 100 million arranged by the International Finance Corporation (IFC), a member of the World Bank. This funding will enable MPS to continue to execute the Tema Port Expansion Project and develop a state-of-the-art port facility meeting the highest international standards.
As the most important public-private partnership in Ghana's history, the new port of Tema will be able to accommodate ships (up to 18,000 TEUs) and handle the increasing flows of goods to and from Ghana and the hinterland. The new Port of Tema will significantly boost economic growth and trade revenues for local companies with an estimated US$ 1.1 billion rise in global value added to the Ghanaian economy and around 450,000 indirect jobs generated.
MPS is carrying out this project within the GPHA Master Plan for the development of Tema Port. It follows the signature in 2004 of the Concession Agreement that provides for the construction of Ghana's largest deep port. Equipped with the latest generation infrastructure and equipment, it will help connect African markets to the global supply chain and develop new business opportunities.