Ghana wants more ship repair work to happen at Takoradi Port
Ghana has secured $137 million for a ship repair facility at the Port of Takoradi. Project Shiprite aims to give shipping companies in the Gulf of Guinea access to specialised maintenance closer to their routes, while creating potential work for local engineering firms, suppliers and transport operators.
Ghana
A ship operating off the coast of West Africa may have to travel thousands of kilometres when it needs major repairs. Some operators send vessels to Namibia or Spain because the region has limited facilities for specialised ship maintenance.
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A ship operating off the coast of West Africa may have to travel thousands of kilometres when it needs major repairs. Some operators send vessels to Namibia or Spain because the region has limited facilities for specialised ship maintenance. Ghana is looking to change that with a $137 million investment at the Port of Takoradi. Known as Project Shiprite, the development has reached financial close. Prime Meridian Docks Ghana Limited will build and operate the facility under a 25 year concession agreement with the Ghana Ports and Harbours Authority. ARM-Harith Infrastructure Fund is among the investors. The plan is to give shipping companies working in the Gulf of Guinea access to ship repair services without having to send their vessels so far from their operating routes.
A facility built for larger vessels
Project Shiprite will include a floating dry dock capable of lifting vessels of up to 13,500 tonnes, a 200-metre jetty and workshops for repair and maintenance work. It will accommodate vessels measuring up to 200 metres. The distance a vessel travels for repairs affects more than its fuel bill. Every extra day away from service can mean lost revenue for its owner or operator. Having a repair facility in Takoradi could make it easier for some shipping companies to manage maintenance without sending vessels overseas. Whether they use it will come down to the cost, quality of work and how quickly repairs can be completed.
“The real opportunity for Ghana is not just building a ship repair facility, but keeping more of the work, skills and spending within the region.”
Local companies will want a share of the work
There is business to be done around a facility of this size. Construction will require contractors, building materials, equipment, transport and technical services. Once operations begin, there could be demand for welding, electrical work, mechanical repairs, marine engineering and maintenance supplies. The project is expected to create up to 430 direct jobs. A $300,000 grant from the Private Infrastructure Development Group will also fund a 24-month training and certification programme for women entering technical roles in the maritime industry.
For businesses in Takoradi and the wider Western Region, the question is how to get involved. Companies with engineering, industrial maintenance and equipment supply experience may be able to compete for contracts, provided they meet the project's requirements.
The business case still has to work
Ghana is hoping to attract ship repair work that currently goes to facilities outside West Africa. That will not happen simply because a new dry dock has been built. Shipping companies already have established repair partners, and they will need a good reason to change. Pricing will matter, but so will the availability of skilled workers, spare parts, equipment and reliable turnaround times. Delays at a repair facility can be costly for a shipping operator.
The $137 million financing package gets the project past an important funding hurdle. The harder part will be building a facility that shipping companies are willing to use regularly. For local businesses, it is worth watching how the construction contracts are awarded and which suppliers are brought on board. The investment may create opportunities, but companies will need to be in a position to compete for the work.
