Maersk unit inks $1bn port deal

The Star Early Edition - - BUSINESS REPORT -

PORT op­er­a­tor APM Ter­mi­nals, a unit of shipping and oil con­glom­er­ate AP Moller-Maersk, said yes­ter­day it had signed a mem­o­ran­dum of un­der­stand­ing with the gov­ern­ment of Ghana to ex­pand its Tema Port. APM Ter­mi­nals said the agree­ment in­cluded a “pri­vate in­vest­ment” in ex­cess of $1 bil­lion (R11bn) by Merid­ian Port Ser­vices of which APM Ter­mi­nals con­trols 35 per­cent. The ex­pan­sion plans in­clude the de­vel­op­ment of four deep wa­ter berths and an ac­cess chan­nel able to ac­com­mo­date larger ves­sels now en­ter­ing the West African. – Reuters

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