In June 2016, Ghana Ports and Harbour Authority and Meridian Ports Services signed a new agreement to design and construct a new port basin and terminal outside and adjacent to the existing port area, with an estimated final capacity of some 3.5 million TEU per year.
Construction commenced in late 2016 on the first phase of the port. Moffatt & Nichol provided technical due diligence services and construction monitoring for the International Finance Corporation (IFC) and other lenders for the construction of the greenfield container terminal. Our first task involved a detailed review of the design elements of the project, capacity and revenue assessments, and the provision of recommendations to the lenders on the cost estimate, contractor selection, and project schedules. Following the award of the three main engineering, procurement, and construction style contracts and equipment purchase orders, our assignment was extended to cover construction monitoring via quarterly site visits, consultations with the site team, and reporting to the lenders. Working together with the technical team, our environmental and social specialists made a number of visits to the site to review compliance with the extensive IFC requirements. The first phase of the project was completed on schedule, and all carrier services were moved from the old port to the new facilities by July 2019. The seven new Neo Panamax container cranes are supported by electrified RTG units and the terminal is one of the largest and most innovative in Africa.