President John Mahama has indicated that the completion of the Tema harbour will create about 5,000 jobs.
Government is receiving good signals from the ongoing three-year economic stabilisation programme with the International Monetary Fund (IMF), President John Dramani Mahama had said.
He mentioned the handling of expenditures as one area where the result was positive and added that, "We are also doing all our best to stabilise the micro economy, bring down interest rates and inflation."
Mr. Mahama said this when officials of the Ghana Ports and Habours Authority (GPHA) and Meridian Ports Services ( MPS) called on him at the Flagstaff House to brief him on the agreement signed for the expansion of the Tema Port.
The GPHA, and MPS, a joint venture between Bolloré Africa Logistics and APM Terminals, signed the agreement earlier on Friday to undertake the mega expansion works.
The project, which is scheduled to be completed in three years would have four new berths that could take the largest vessels in the world.
Terminal facilities to be constructed would include bulk, liquid bulk and general cargo terminals as global trade with African countries accelerate.
Touching on the power problem, the President said everything was being done to stabilize the situation.
"I am sure that very sooner than later we will have stable and adequate power for all investors," he said.
President Mahama said the $ 1.5 billion agreement signed for the expansion of the Port of Tema was a testimony of the growing investor confidence in the country.
"You won't have this investment coming in when you nought that the Ghanaian economy was going down," he said.
In a separate project but with links to the port expansion, APM Terminals and Bolloré Africa Logistics will upgrade the Accra and Tema motorway to a six-lane modern highway along with improved connecting roads and access point to enhance the movement of cargoes into and out of the port of Tema and the hinterland.
The President said he was excited with the works going on in Tema port because they were all privately-funded.
They would thus not add to the problems government had with debt management.
"That is why I think it is unique and it is worth celebrating, " he said.
He indicated that the project was going to be the single largest investment in Ghana in the non-oil sector.
Mr. Mahama said when the project was completed, Ghana would rank high as one of the best in terms of port efficiency in the world.
He congratulated the parties for that extraordinary collaboration.
Touching on the ongoing Takoradi Port expansion, the President said it also demonstrated the determination by government to bolster economic development.
Present included the Minister of Transport, Mrs Dzifa Attivor and the Board Chairman of GPHA, Mr. Samuel Ofosu-Ampofo.