Growing vessel diversions around the Cape of Good Hope have increased shipping traffic along the West African coastline. At the same time, major oil companies are expanding deepwater drilling activities across the region, signalling continued growth in the offshore sector. As a result, West Africa is attracting greater attention as a destination for ship repair and maintenance services. To take advantage of these opportunities, several governments across the region are investing in new ship repair infrastructure.
Ghana recently reached a major milestone in this effort after the Takoradi Floating Dock Project (Shiprite) secured $9.7 million in financing from the Private Infrastructure Development Group (PIDG). The funding forms part of a broader growth partnership between Ghana and the United Kingdom, signed during President John Mahama’s visit to the UK.
The $137 million Takoradi Floating Dock project is being developed by an investor consortium led by Prime Meridian Docks Ghana Ltd, with equity support from the ARM-Harith Infrastructure Fund. PIDG’s contribution closed the remaining funding gap for the project. The African Export-Import Bank serves as the mandated lead arranger, while the African Development Bank and the Eastern and Southern African Trade and Development Bank (TDB) are also expected to participate.
PIDG will channel the financing through its project development arm, InfraCO. Supported by six governments, including the United Kingdom, Australia, Canada, Sweden and the Netherlands, PIDG described Project Shiprite as an important investment for the future of West Africa’s maritime sector. At present, vessels operating in the Gulf of Guinea often travel between 10 and 14 days to reach repair facilities in Walvis Bay, Namibia, or Las Palmas, Spain, for scheduled dry docking and maintenance.
The Takoradi Floating Dock project aims to address this challenge by providing a modern commercial ship repair and dry docking facility within the Gulf of Guinea. Developed in partnership with the Ghana Ports and Harbours Authority (GPHA), the facility will operate under a 25-year concession agreement. The project site is located near the Port of Takoradi, approximately 140 miles from Accra, and will accommodate vessels of up to 200 metres in length once completed.
The wider West African region is also seeing increased investment in dry dock and shipyard infrastructure. Last month, Senegal partnered with Damen Shipyards Group to establish a joint venture that will operate and upgrade the Dakar Shipyard. In Nigeria, Afreximbank is supporting the expansion of the Starzs Marine shipyard located in the Onne Oil and Gas Free Zone in Rivers State.
source: https://maritime-executive.com/
African Maritime Council