The Government of Ghana has approved a concession deal signed between the Ghana Ports and Harbours Authority (GPHA) and IBISTEK for the development and operation of a Takoradi Port terminal.
The 25-year concession deal was signed last year and will see the development of an on-dock multi-purpose container terminal.
To be developed over 61ha of space, the terminal will be designed to handle one million twenty-foot equivalent units (TEUs) of containers at the port and three million tonnes of general cargo annually.
Set to be developed by IBISTEK Ghana, the terminal will be equipped with a container quay with 16m of draft to accommodate bigger vessels.
Ghana Finance Minister Ken Ofori-Atta has granted the latest approval through a letter, which endorses a previous letter written by Public Procurement Authority to the Finance Ministry on 5 February seeking validity of the concession.
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The new letter reads: “Subsequent to the referenced letter, this Ministry sought the views of the Public Procurement Authority (PPA) and the Ministry of Transport (MoT) regarding the propriety of the procurement processes employed by the GPHA in concessioning the integrated terminal to IBISTEK.”
The ministry also earlier requested the African Development Bank (AfDB) to support IBISTEK in receiving funding for the terminal, which is expected to boost the country’s condition in general and the Sekondi-Takoradi Municipality in particular.
IBISTEK is solely responsible for providing full funding to the project, starting from the construction of basic infrastructure to utility systems, procurement, and installation of cargo handling cranes and equipment, among others.