At its 41st Meeting chaired by President John Dramani Mahama, the Cabinet approved of the state take-over of PSC Tema Shipyard and Dry Dock Company Limited (PSCT).
The cabinet directed the Ministry of Transport to hand over the operations of the two companies to the state-run Ghana Ports and Harbors Authority (GPHA), according to a statement signed by Edward Omane Boamah, Minister of Communications.
The decision, according the the cabinet, was with the expectation that the Tema Shipyard would in the long term attract the needed resources to venture into the building of Floating Production, Storage and Offloading Vessels for the oil and gas industry.
It said the shipyard would also continue to provide services to the ports and harbors and related sectors in the short to medium term.
The decisions taken to transfer the two institutions to the GPHA and the provision of a mooring facility for the use of Tema Oil Refinery are expected to contribute significantly to efforts being made to create more jobs through diversification and value addition to raw materials, said the government’s release.
Source: News Ghana