The Private Infrastructure Development Group (PIDG) has joined an investor consortium to close the final funding gap for a $137 million maritime infrastructure project in Ghana, paving the way for financial close and construction of the Takoradi Floating Dock Project, known as Shiprite.

Located at the Port of Takoradi, around 225 kilometres from Accra, the project will develop, build and operate a commercial-scale ship repair and dry docking facility in the Gulf of Guinea under a 25-year concession agreement with the Ghana Ports and Harbours Authority (GPHA).

PIDG’s equity investment, made through its InfraCo platform, complements commitments from ARM-Harith Infrastructure Fund and project developer Prime Meridian Docks Ghana. It also unlocks senior and mezzanine financing from a consortium of development and private lenders, including the African Export-Import Bank (Afreximbank), the African Development Bank, the Trade and Development Bank, Petra Pension Schemes and Origen Private Debt Fund.

The announcement was made during the Ghana-UK Investment Summit in London, attended by President John Dramani Mahama.

The British High Commissioner to Ghana, Christian Rogg, said, “Shiprite embodies the ambition we are setting through our newly signed UK-Ghana Growth Partnership. It combines capital and expertise, mobilises international and domestic investors, and backs public-private partnerships to create jobs in Ghana and business opportunities for UK shipping and logistics firms.”

Government spokesperson Felix Kwakye-Ofosu said, “Government welcomes this important investment and commends all partners whose collaboration has brought the project to this stage. This project will establish a world-class ship repair and dry docking facility in Takoradi, enabling vessels operating in the region to access critical maintenance services closer to home. Beyond improving operational efficiency, the project is expected to create employment opportunities, strengthen local capacity, reduce vessel downtime, retain foreign exchange within the region, and contribute to lower emissions by reducing long-distance voyages for ship repairs. We look forward to its successful implementation and the positive impact it will have on Ghana’s maritime industry and economic development.”

Stanley R. K. Ahorlu, Chief Executive Officer and Lead Sponsor of Prime Meridian Docks, said, “We are delighted to welcome PIDG to the project; their investment has enabled us to proceed to the construction and operation of this transformational initiative in the Gulf of Guinea. Building dry docking facilities to international standards in Ghana will generate employment as well as reduce journey times, fuel costs, and emissions. It will also keep vital foreign exchange in the region.”

Once operational, vessels up to 200 metres in length will be able to undertake mandatory dry docking and ad hoc repairs at the PMD Yard in Takoradi, avoiding the need to sail 10–14 days to Walvis Bay, Namibia, or Las Palmas, Spain for service.

Claire Jarratt, PIDG Head of Investment Management for InfraCo, said, “PIDG is committed to mobilising private and development finance for sustainable infrastructure. Project Shiprite epitomises this work as we are closing a critical late-stage funding gap to unlock significant senior and mezzanine financing for this transformational project, the first of its kind in West Africa. The project is also pioneering the involvement of a local pension provider in the region’s infrastructure finance ecosystem, setting the stage for future similar investments. We are proud to be working with such strong partners to develop world-class maritime dry docking and repair facilities in Ghana which will serve the region’s vessels into the future.”

Rachel Moré-Oshodi, Chief Executive Officer of ARM-Harith Infrastructure Fund Managers, said, “Project Shiprite has been a long journey, and PIDG’s investment marks an important step in moving the project forward. We are pleased to welcome them into the partnership. As a long-term partner in the development and structuring of Shiprite, we have seen the project evolve from a bold idea into a bankable infrastructure platform with the potential to serve Ghana and the wider Gulf of Guinea. That kind of progress takes time, discipline, persistence, and partners who believe in the strategic importance of what is being built. For us, Shiprite reflects exactly why ARM-Harith exists: to help turn essential infrastructure ideas into investable projects that can strengthen local economies, deepen industrial capacity, and create long-term value. We are proud to have played a central role in bringing the project to this stage, and we look forward to continuing working with Prime Meridian Docks, GPHA, PIDG, and the broader financing consortium as the project advances.”

The project is expected to establish Ghana as a regional maritime hub, significantly reducing vessel downtime and improving efficiency. It is also expected to support the maritime industry’s decarbonisation by eliminating long voyages for ship repairs and enabling retrofitting and energy-efficient upgrades closer to operations in the Gulf of Guinea.