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27.07.2005 Business & Finance

MOU on new port terminal in Western Region signed

GNA

Accra, July 27, GNA - Ghana and the Management of A.P. Moller Maersk, one of the world's leading shipping lines on Wednesday signed a Memorandum of Understanding (MOU) to enable the company to undertake feasibility studies off the coast of the Takoradi Harbour to construct a deep container terminal.

Professor Christopher Ameyaw-Akumfi, Minister of Ports, Harbours and Railways and Mr Kwadwo Okyere Mpiani, Chief of Staff, signed for Ghana while Mr Greg Fennel, Vice President, A. P. Moller Maersk Terminals and Mr Soren N. Thomson, Chief Executive, MAERSK (Ghana) Limited, signed for the company.

President John Agyekum Kufuor who witnessed the signing ceremony at the Castle, Osu said the construction of a deep hub terminal for containers, the first on the West African coast would give an impetus to Ghana as the gateway to the sub-region.

He said the government would corporate with the company to achieve its vision, because port facilities in Ghana were already overstretched and an additional port terminal would enable Ghana to serve the neighbouring landlocked countries much better. President Kufuor pledged the government's commitment to facilitate the development of the project as far as possible and the company was expected to reciprocate the gesture in a win-win fashion to benefit both partners.

Mr Fennel said there were many preferred locations along the West African coast but Ghana was chosen because of the long-standing relations between them, the sound economic conditions and the enabling environment for investment.

He said with the exploration of the opportunity offered by the MOU, economic growth in Ghana would be enhanced along with the creation of more job opportunities and other benefits to the partners involved.

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