This first draw, with a total amount of $667 million, was arranged by the IFC as part of a project financing package signed in June 2016. The $1.5 billion port development is to date the largest public-private partnership in Ghana's history and the largest investment on the Atlantic coast.
The extension works will help expand trade flows and strengthen the competitiveness of the port thus positioning it as a leading maritime hub in West African region. Equipped with state-of-the-art infrastructure, it will accommodate the largest container port in the world and handle 3.7 million TEUs a year.
"The construction works are progressing well and the commercial go-live on June 28, 2019, remains the target" said Mohamed Samara, Chairman and CEO of MPS.