A New oil jetty at the Takoradi Port is to become operational on October 1, 2019, as part of the Takoradi Port expansion works.
The new jetty replaces an old one that could discharge only 20,000 tonnes of petroleum from ships.
The new jetty can discharge in excess of 80,000 tonnes of petroleum.
Chairman for Ibistek, a local company undertaking the Takoradi port expansion works, Kwame Gyan, told Joy Business in an interview that the new oil jetty which is the largest in West Africa will play a key role in discharging petroleum at the ports.
The first phase of the port expansions project, which is expected to be completed within 24 months, is being financed partially by the African Finance Group (AFC) following a withdrawal by the African Development Bank (AfDB), the initial financiers of the project.
Ibistek is providing a 50 per cent equity of $200 million which it had since secured through the capital market, while the AFC Group, headquartered in Nigeria, was providing the debt component of the funding.
The company has also invested in the development of access roads to the port, linking the project to the off-dock devanning terminal that was previously built, which has seen a significant increase in container cargo vessels at the port.
Latest Stories
-
IGP shares Easter safety tips on Adom FM’s Ofie Kwanso
1 min -
Ebo Whyte offers fully-funded trip as he unveils new play ‘Dubai or No Sex’
13 mins -
Ancient culture of Anlo Kingdom: Exploring “Torkor Atorlia,” the fifth landing stage’s old ways of punishment
28 mins -
Leaders from Saudi Arabia, Turkey, Botswana, Cameroon and Sierra Leone to lead discussions at Africa Finance Corporation’s (AFC) 4th Country & Stakeholder Symposium
59 mins -
Network International Delivers Strong 2023 Revenue growth at 15% y/y and free cashflow growth of 16% y/y
59 mins -
President Akufo-Addo extends Easter Greetings to Ghanaians, urges safe drive
1 hour -
Government pushes for use of more local materials in housing, other infrastructure projects
2 hours -
Dr Bawumia extends Easter greetings to Christians
2 hours -
CAF Confederation Cup: ‘Ghanaians should expect victory against Stade Malien’ – Dreams FC forward Ishmael Dede
2 hours -
CAF Confederation Cup: ‘We want to go there and win’ – Karim Zito on Stade Malian clash
3 hours -
Togbe Adzie Lãkle Howusu XII endorses youth leadership as New Force Movement gains momentum
3 hours -
Public Utility Workers Union appeals to PURC to address power crisis
4 hours -
Anbariya loses another appeal in Kumasi as Appeal Court ratifies High Court ruling against the Islamic Institute
4 hours -
Highway construction health hazard: Ofankor-Pokuase-Nsawam residents appeal for dust relief
4 hours -
SuperJazzClub releases its first single of the year ‘Off’
4 hours