Ghana breaks ground on US$137M Takoradi floating dock project
The project aims to capture economic value from vessel repair and maintenance currently carried out outside Africa.
GHANA – Ghana has launched the Prime Meridian Floating Dock project at the Port of Takoradi, a US$137 million shipyard developed by Prime Meridian Docks Ghana Limited under a 25-year concession from the Ghana Ports and Harbours Authority, according to the project’s developers.
The facility will provide vessel repair and maintenance services to shipping companies operating in the Gulf of Guinea.
Some maritime operators in the region currently travel up to 5,500 kilometers to access such services.
Facility specifications and financing
The project has reached financial close, with an announced investment of US$137 million.
The planned facility will have a lifting capacity of 13,500 tonnes and a 200-metre jetty, along with a modern workshop, offices and heavy marine equipment.
Once operational, the shipyard is expected to create up to 430 direct jobs, with the African Development Bank contributing to the project’s funding.
Regional competition and economic retention
The project aims to capture economic value from vessel repair and maintenance currently carried out outside Africa.
The AfDB has said that establishing such facilities could help retain foreign currency within Africa that would otherwise be spent on ship repair services abroad.
Ghana’s project comes as other West African countries strengthen their maritime repair infrastructure.
In Nigeria, a similar project reached financial close in June 2025, securing US$150 million in funding.
In Benin, shipyard construction is one of 12 major projects under the Port of Cotonou’s expansion and modernization programme.
Meanwhile, CARENA, a shipyard based in Abidjan, Côte d’Ivoire, has upgraded its equipment in recent years.
The 13,500-tonne lifting capacity determines which vessel classes the facility can serve. It accommodates most offshore supply vessels, tugs, barges and mid-sized cargo ships operating in the Gulf of Guinea but excludes very large crude carriers and large container vessels, which require substantially greater dock capacity.
The addressable market is therefore regional offshore and coastal tonnage rather than mainline deep-sea vessels.
For Prime Meridian, translating the investment into a steady flow of contracts depends on equipment availability, turnaround times, operating costs, and the ability to attract international customers.
Ultimately, competition from facilities in Nigeria and Côte d’Ivoire gives regional operators alternatives, and pricing will determine whether vessels divert to Takoradi rather than established yards.
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