Atuabo Free Port Ghana Limited, is expected to list on the Ghana Stock Exchange soon after it commences operations.
The 600 million dollar joint project between Ghanaian institutions and a foreign investor is expected to commence in the second quarter of 2015.
The project expected to be completed in 25 months would provide port facilities solely to support the oil and gas industry.
According to the ownership structure, Ghanaian shareholders will own 45%, Lonrho 35% and 20% will be owned by institutional investors.
Speaking to Citi Business News the Director of the Atuabo Free Port project Steven Gray said,”during the negotiation process the government and the President(Mahama) in particular insisted that he wanted meaningful and substantial participation from the Ghanaian group and it was an approach that we welcomed”.
According to him provisions are being made for the company to list on the Ghana Stock Exchange.
“the discussion that we have had with government , there will be some point in the future looking to realize the value of these shares by listing them on the stock exchange at some point in the future…it means the prosperity that such an investment generates remain in the country”, Steven Gray stressed.
By: Rabiu Alhassan/citifmonline.com/Ghana