A consortium of development banks has agreed to back “Project Shiprite”, a floating drydock that will be built at the port of Takoradi in western Ghana.

The $137m dock will have a 13,500 tonne lift-capacity, a 200m jetty, workshops, offices and heavy marine equipment.

Some $94m was raised by the African Export-Import Bank, African Development Bank (AfDB), the Eastern and Southern African Trade and Development Bank and the Petra Pension Schemes.

Work will be carried out by PMD Assetco, a Ghanaian ship repair company employed under a concessions contract by the Ghana Ports and Harbours Authority.

Mike Salawou, the AfDB’s director for infrastructure, cities and urban development, said: “With over 400 new jobs expected to be created, of which more than 15% will be reserved for youth and women, the socio-economic impact of Project Shiprite is a compelling proposition for the bank.”

Stanley Ahorlu, the project’s lead sponsor, said: “PMD Assetco is poised to commence the construction of both the civil works and the floating dock and looks forward to entering the market to support shipowners in the region as international shipping works towards reducing greenhouse gas emissions.”