IBISTEK Limited plans to build multi-purpose terminal at Takoradi Port

Takoradi Port
Takoradi Port

Ghanaian firm, IBISTEK Limited, says its plans to build and operate a US$422 million on-dock multi-purpose terminal at the Takoradi Port, is on course.

The construction of the terminal is expected to shore up the cargo throughput capacity to one million total enclosed units (TEUs) from the current average of about 63,000.

This follows the acquisition of a concessionary permit from the Ghana Ports and Harbours Authority (GPHA) to develop and operate a multi-purpose container terminal at the country’s exports-led seaport.

Project Technical Consultant, Captain James Owusu Koranteng, told journalists that the new terminal would significantly enhance the capacity of the Takoradi Port.

“This is a project that will open up the port community in terms of cargo throughput, job creation and positioning the Takoradi Port as a preferred business destination,” he said.

The deal, which spans a period of 25 years, aligns with the GPHA’s master plan to develop and reposition the port to meet projected demands and to create the much needed jobs.

“We are currently looking for an operator who has the capacity and international presence; we are set to go as soon as the remaining paper works are done,” Capt. Koranteng said.

Lead financial arranger for the project, African Development Bank (AfDB), will release US$106 million and raise the remaining US$316 million from interested investment firms.

Lawyer Kwame Gyan, Chairman and Director of IBISTEK, said the company was looking for possible ways of partnering firms from the United Kingdom (UK) in developing the project at the Takoradi Port.

“We are looking at the possibilities of British firms partnering with us in the construction and more particularly in the supply of equipment for the facility,” he said.

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