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Parliament Approves €160 Million Loan for Takoradi Port

Posted on January 19, 2016

Shipping company CMA-CGM says the parliament in Ghana recently ratified an agreement between Ghana Ports and Harbours Authority [GPHA], KBC Bank NV, Belfius Bank SA/NV, Deutsche Bank AG and BNP Paribas Fortis NV/SA for €160 million to finance the additional civil and dredging works at Takoradi Port.

Quoting Ghana Web, CMA-CGM said the agreement brings the total funds for the project to €357 million.

At present the physical marine structures at the manganese and bauxite terminals are structurally poor and could collapse. Meanwhile several commercial requests for space and port infrastructure in Takoradi had been turned down due to the obvious lack of space and facilities. The loan will enhance the ports commercial viability.

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