The Ghana Ports and Harbours Authority (GPHA) has signed a Memorandum of Understanding (MoU) with IBISTEK Limited, a Ghanaian company for a concession to build a multi-purpose container terminal at the Takoradi Port at a cost of $370million.

The project, according to GPHA, will absorb about two million Twenty Equivalent Units (TEUs) of containers in line with GPHA’s master plan for the Takoradi Port to compete fervently with other ports in the sub-region.

Acting Director General of GPHA, Paul Asare Ansah said the project is anticipated to create over 2000 direct and indirect jobs in the Western Region.

“It is a very refreshing moment that we are witnessing as we sign this historic agreement and we have no doubt that from now onwards, the port of Takoradi is going to witness a landmark transformation that will create not less than 2000 jobs both directly and indirectly in Takoradi, and it’s going to be an enclave for transit and transshipment activities and this project is going to completely transform the economics of the Western Region,” he stated.

President of IBISTEK, Kwame Gyan expressed his excitement about the project, adding that IBISTEK will commit itself to ensure it delivers on the project.