YILPORT Holding Signs MoU for Takoradi Port in Ghana
Global ports and container terminals operator YILPORT Holding is pleased to announce that the company signed a Memorandum of Understanding agreement to operate the Takoradi Port in Ghana starting from April 2023.
The agreement was signed in Istanbul, Turkey on 11 January 2023 by YILPORT Holding’s Chairman & CEO Robert Yuksel YILDIRIM, and Takoradi Port’s operating company Ibis Tek’s Chairman Kwame GYAN and Director Nana Yaw BOAHENE. The signing ceremony was attended by Mr. Ernest Yaw AMPORFUL, the Deputy Head of Mission at the Embassy of Ghana in Turkey.
YILPORT and Ibis Tek will establish a joint venture company of YILPORT Takoradi Port Management Company on 70-30 basis respectively to invest in and operate the Takoradi Port. The project scope is to develop the existing container terminal in 3 phases to reach up to 2.25 million TEUs annual capacity. 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.
YILPORT considers to build new access roads and gate facilities for Takoradi Port, in order to increase handling capacity and avoid traffic congestions. YILPORT plans to invest over USD 700 million in 3 phases to build and operate a state-of-the-art port complex.
YILPORT Takoradi Port will also have Tacotel Inland Terminal (27 acres container handling facility, 2 kilometers away from the port) and Marshall Oil Jetty Terminal. Yilport plans to build a tank farm to handle 2.5 million tons of liquid products annually.
YILPORT will expand the total length of the berths to 2.5 kilometers and deepen the draft between -14 meters and -16.5 meters. This new deep-sea terminal will serve the West African corridor cargo in Ghana and Burkina Faso, Mali and Niger. YILPORT is expected to take over operations in the 2nd quarter of 2023.
This strategic investment is a milestone for YILPORT, as the company is entering the African port industry. Takoradi Port will be the 23rd marine terminal in YILPORT Holding’s portfolio, and its first terminal in Africa.
The Takoradi Port is located in the western region of Ghana and in the industrial district of Sekondi-Takoradi. The port is on the best and the most cost-effective route to and from Burkina Faso, Mali, Chad, Niger, etc., for the cargos of Europe, Americas, and Asia. The terminal mainly exports cocoa, timber, bauxite, and manganese, also importing wheat, fertilizers, clinker, general cargo, and transit cargo.
Robert Yuksel Yildirim, Chairman and CEO of YILPORT Holding made the following remarks:
“I am very honored and excited to welcome Takoradi Port into the YILPORT Holding family. 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. Takoradi Port has a great potential to serve the African and Atlantic marine trade. We look forward to unlock 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. We are looking forward to increasing and expanding the brand of Takoradi Port and as well as YILPORT. At YILPORT, we are excited about this unique challenge and opportunity.”