Construction of a US$137 million ship repair and dry-docking facility at the Port of Takoradi is due to begin on Tuesday, November 10, after developers and financiers reached financial close.
President John Dramani Mahama, Ghana’s Minister of Transport and officials from the Ghana Ports and Harbours Authority (GPHA) are expected in Takoradi for the start of work on Project Shiprite.
The development is a flagship maritime investment identified under the UK–Ghana Growth Partnership, signed in London in June 2026.
Prime Meridian Docks (PMD) Ghana Limited is developing the integrated shipyard through a 25-year concession from GPHA.
Equity for the project has been provided by PMD, the ARM-Harith Infrastructure Fund and the UK-backed Private Infrastructure Development Group (PIDG). Their investment helped secure senior and mezzanine debt for the facility.
The African Export-Import Bank led the debt financing, with the African Development Bank, the Trade and Development Bank, Petra Pension Schemes and the Origen Private Debt Fund also participating.
The project includes a US$300,000 grant from PIDG’s Technical Assistance facility to support a 24-month Gender Impact Enhancement Programme.
The programme will provide women with training and certification, helping them take up roles in the shipyard’s technical workforce.
The facility will be able to serve commercial vessels of up to 200 metres in length and is expected to create as many as 430 direct jobs. It will also generate contracts for local suppliers at Takoradi Port.
At present, vessels operating in the Gulf of Guinea that require mandatory dry-docking must typically spend 10 to 14 days sailing to Walvis Bay in Namibia or Las Palmas in Spain.
The Takoradi facility is intended to cut those diversions, reducing fuel use and emissions while retaining foreign exchange within the region.
British High Commissioner to Ghana Dr Christian Rogg said Project Shiprite demonstrated the shared objectives set out in the June 2026 agreement signed in London.
“Shiprite is a powerful expression of that ambition and of the confidence we share in Ghana’s economic future,” Rogg said.
PMD Chief Executive Officer Stanley Ahorlu said the financial close followed years of work to establish competitive ship repair services closer to regional shipping routes and develop Ghanaian technical expertise.
GPHA Director-General Major General Paul Seidu Tanye-Kulono said the project supported the authority’s plans to open up Ghana’s maritime market and strengthen Takoradi’s position as a leading regional port hub.
