Ghana Lands $9.7 Million for Major Drydock Project

Ghana has taken a significant step toward becoming one of West Africa’s leading maritime service hubs after securing fresh financing for the ambitious Takoradi Floating Dock Project.

The project, also known as Shiprite, recently received $9.7 million in funding from the Private Infrastructure Development Group (PIDG), helping to close a crucial financing gap and move construction plans closer to reality.

The investment forms part of a broader infrastructure partnership between Ghana and the United Kingdom, announced during President John Mahama’s recent visit to the UK.

The development comes at a pivotal moment for West Africa’s maritime sector. Global shipping routes have experienced notable changes as more vessels navigate around the Cape of Good Hope.

At the same time, major offshore oil and gas exploration activities continue to expand across the region. Together, these trends have increased demand for reliable ship maintenance, repair, and dry docking services closer to operational waters.

Valued at approximately $137 million, the Takoradi Floating Dock Project is being developed by a consortium led by Prime Meridian Docks Ghana Ltd, alongside investment support from ARM-Harith Infrastructure Fund.

The financing structure also includes participation from African Export-Import Bank as the mandated lead arranger, while additional funding is expected from African Development Bank and Trade and Development Bank.

PIDG will channel its investment through InfraCo, the organization’s project development arm. The group, which receives backing from governments including the United Kingdom, Australia, Canada, Sweden, and the Netherlands, described the project as a timely investment that could transform maritime operations across West Africa.

Currently, ship operators in the Gulf of Guinea face costly and time-consuming journeys whenever vessels require scheduled dry docking or maintenance.

Many ships must travel between 10 and 14 days to facilities in Walvis Bay or Las Palmas before repairs can begin. Those delays increase operating costs and reduce efficiency for shipping companies serving the region.

The Takoradi facility aims to address that challenge directly. Once completed, it will provide commercial-scale ship repair and dry docking services within the Gulf of Guinea, reducing travel times and strengthening regional maritime capabilities.

The project is being delivered in partnership with Ghana Ports and Harbours Authority under a 25-year concession agreement. Located near the Port of Takoradi, roughly 140 miles from Accra, the facility will accommodate vessels measuring up to 200 meters in length when operational.

Beyond Ghana, momentum is building across West Africa as governments and investors increasingly recognize maritime infrastructure as a key economic growth driver.

Recent months have seen a wave of shipyard modernization projects designed to capture a larger share of the global marine services market.

In Senegal, authorities recently partnered with Damen Shipyards Group to modernize and operate the historic Dakar Shipyard. Meanwhile, Afreximbank continues supporting upgrades at the Starzs Marine shipyard located within Nigeria’s Onne Oil and Gas Free Zone.

These investments reflect a broader shift across Africa’s maritime economy. As shipping volumes increase and offshore energy projects expand, countries with modern repair and maintenance facilities stand to capture substantial economic value, create skilled jobs, and strengthen regional trade networks.

For Ghana, the Takoradi Floating Dock Project represents more than an infrastructure investment. It signals the country’s ambition to become a strategic maritime gateway for West Africa while positioning itself at the center of a rapidly growing ship repair and offshore services market.