Maersk unit inks $1bn port deal

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