Tema Shipyard Taken Over by Ghana

Government of Ghaina to take over Tema Shipyard from Malaysia's Penang Shipbuilding

The Government of Ghana has signed the Sales and Purchase Agreement, which would finally transfer to Ghana the entire 60 per cent shares of PSC Tema Shipyard, which has been held for over 13 years by Penang Shipbuilding.

The Minister for Transport, Alhaji Collins Dauda, together with the transitional team, signed the agreement during a brief ceremony at the premise of the shipyard in Tema to ensure the total ownership of the yard by Ghana.

Giving the rationale behind the building and divestiture of the yard some 13 years ago, the minister said the Tema Shipyard and Dry-Dock Corporation was built during the construction of the Tema Harbour as part of the overall infrastructure requirement for the country’s maritime industry and socio-economic development.

However, the joint-venture had failed to achieve vision and the the Chief Executive Officer (CEO) of the Tema shipyard, Seth Kugblenu, said together with the rest of the team they would work to transform the yard to serve its economic purposes.