African Finance Corporation (AFC) has announced a 35% equity investment in Atlantic Terminal Services Limited (ATSL), the stakeholder in Ghana’s Takoradi Port expansion, to Ilport Holding, a global port and container terminal operator. Sold to.
“This is a testament to the Corporation’s ability to attract international third-party capital and exit strategic infrastructure assets, de-risked and built from strategic infrastructure assets through AFC’s unique project development and construction services.” says the release.
In 2019, AFC committed to invest up to $138 million in equity and debt in the Takoradi Port expansion project. The project is nearing operational stage and will modernize a container and multi-purpose terminal under a 25-year design, engineering and construction concession to connect Ghana’s western and central regions with neighboring landlocked countries. Reduce import and export costs. Financing and construction. The transaction will see AFC end its shareholding, while Ibistek and Ghana Ports Authority will remain shareholders in the project. AFC remains the lender to this project and remains fully committed to ensuring its success.
Takoradi, an important port in the western region of Ghana, plays a key role in the country’s economic growth and regional connectivity. This route will provide a shorter route into western and central Ghana, including the Takoradi region, which boasts strong agricultural activity, including 50% of Ghana’s cocoa production, manufacturing, industrial and business parks, and a growing natural resources sector. It offers less congested links. The port is also well suited to provide connections with neighboring landlocked countries. The project is part of the country’s national development plan to revitalize and industrialize the western region of Ghana and enhance efficiency and competitiveness across Ghana by reducing import and export costs, building local capacity and creating direct employment opportunities. form.
Samaira Zubair, President and CEO of African Finance Corporation, said: “This departure is an important milestone for the AFC’s impact on the continent, and we are committed to implementing and de-risking the Takoradi Port expansion. We are proud to play a vital role in promoting this.” This project is reshaping West Africa’s economic landscape and partnering with a reputable investor like Ilport Holding will transform supply chains, create local jobs and enable resource reaping. consistent with our mission to foster the flow of global investment into Africa. ”
Ilport Holding, a subsidiary of the Amsterdam and Istanbul-based Yildirim Group, has been building world-class multipurpose port facilities since 2004 with the aim of becoming one of the world’s top 10 port operators by 2030. Ta. Investing in Takoradi is the ideal gateway to Takoradi. Ileport Africa plans to transform the port and its adjacent area into a logistics and trade hub, securing high volumes of traffic.
“Acquiring a stake in Atlantic Terminal Services through this valuable partnership with AFC represents an important opportunity for Ilport Holding,” said Robert Yuksel Yildirim, Chairman and CEO of Ilport Holding. he said. “This will serve as a strategic gateway for us to establish our presence in the African market and align seamlessly with our efforts to foster a world-class logistics and trade hub on an international scale.”
Additionally, “AFC is focused on developing long-term infrastructure solutions that improve the resilience and sustainability of cost-effective supply chain logistics. We have completed the construction of two new ports: De Nouakchott (TCN) and San Pedro (TIPSP) multipurpose industrial terminal.”