Global ports and container terminals operator Yilport Holding will manage operations at Takoradi Port in Ghana from April 2023.
Senior representatives from Yilport and Takoradi Port signed a Memorandum of Understanding (MoU) in Istanbul on 11 January to officialise the takeover.
Under the terms of the MoU, Yilport and Ibis Tek – the port’s operating company – will establish a joint venture company, YILPORT Takoradi Port Management Company, with a 70-30 split respectively.
The project’s aim is to develop the existing container terminal in three phases to reach a capacity of 2.25 million TEU per year.
The port will be the 23rd marine terminal in Yilport’s portfolio, and its first terminal in Africa.
The company is expected to take over operations in the second quarter of 2023.
“Takoradi Port will be Yilport’s first step into the African continent, and it will be a gemstone in our vision to rank among the top 10 global container terminal operators by 2030,” said Robert Yuksel Yildirim, Chairman and CEO of Yilport Holding.
“Takoradi Port has a great potential to serve the African and Atlantic marine trade. We look forward to unlocking that strong potential and grow Takoradi and Ghana internationally.
“We will transfer Yilport’s experience and process excellence methodology to boost efficiency, productivity, while increasing Takoradi’s portfolio of customers.”
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The joint venture company, under the vision and management of Yilport, will also develop multipurpose berths for liquid, bulk, and general cargo operations for about 20 million tons annual handling capacity.
In order to increase handling capacity and avoid traffic congestion, Yilport plans to build new access roads and gate facilities for the Takoradi Port.
The company is planning to invest over $700 million in three phases to build and operate a state-of-the-art port complex.
Yilport will expand the total length of the berths to 2.5 kilometres and deepen the draft between 14 and 16.5 metres.
This new deep-sea terminal will serve the West African corridor cargo in Ghana and Burkina Faso, Mali and Niger.
Yilport’s container terminals handled 3.4 million TEU in the first half of 2022, a massive 36 per cent growth on 2021 figures.
The 3,412,604 TEU handled globally is as a result of new services such as those in Turkey, where Yilport Gebze and Gemlik terminals welcomed new calls from MEDKON Lines, CMA CGM and Maersk.
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