{"id":6540,"date":"2017-10-09T01:45:23","date_gmt":"2017-10-09T01:45:23","guid":{"rendered":"https:\/\/amazingproperty.com.ng\/blog\/arm-harith-infrastructure-fund-to-invest-in-ghana-repairs-project\/"},"modified":"2017-10-09T01:45:23","modified_gmt":"2017-10-09T01:45:23","slug":"arm-harith-infrastructure-fund-to-invest-in-ghana-repairs-project","status":"publish","type":"post","link":"https:\/\/amazingproperty.com.ng\/blog\/arm-harith-infrastructure-fund-to-invest-in-ghana-repairs-project\/","title":{"rendered":"ARM- Harith Infrastructure Fund to invest in Ghana repairs project"},"content":{"rendered":"

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Long-term financing for the project will be provided in the form of debt and equity from local and international sources. ARMHIF is lined up to provide equity\u00a0capital for the project\u00a0alongside Prime Meridian Docks Ghana Limited (\u201cPMD\u201d) and other investors. PMD is the lead<\/a> sponsor of the Takoradi Floating Dock Project.<\/p>\n

ARMHIF is a closed-ended specialist Infrastructure Fund established by Asset and Resource Management Company Limited of Nigeria (ARM), and Harith General Partners Proprietary Limited of South Africa (Harith), that invests\u00a0equity\u00a0in transport, energy<\/a>, and utilities infrastructure projects across West Africa. First close of the Fund was achieved in January 2015, with investment\u00a0commitments\u00a0received from the African Development Bank, ARM and Harith.<\/p>\n

Recently PMD launched its new offices located at the Port of Takoradi, which was attended by\u00a0ARMHIIL. \u00a0Also present at the ceremony were several Government of Ghana dignitaries, including Ghana\u2019s Minister of Transport, the Director-General of the Ghana Ports and Harbours Authority, and the Director of Takoradi Port, amongst others.<\/p>\n

Speaking at the ceremony ARMHIIL\u2019s Managing\u00a0Director\u00a0\u00a0and CEO, Opuiyo Oforiokuma, said: \u201cWe are pleased to be involved in the Takoradi Floating Dock Project,\u00a0\u00a0not only because of its fit with ARMHIF\u2019s investment focus on West African transport infrastructure, amongst other sectors, but also because of the comfort that we have in the robustness and viability of the project, and the confidence that we have in the lead sponsors, PMD, their UK-based technical partners, Rigmar Services Ltd, and their South African-based financial advisers, Liquid Africa.<\/p>\n

In addition, we are encouraged by the commitment and support that the project is receiving from the Government of Ghana, notably via the Ghana Ports and Harbours Authority. Much credit must be given to PMD for their flexibility in accommodating new ideas for enhancing the project, and for their determination and doggedness in driving the project to a stage where financial close should be achieved soon.\u201d<\/p>\n

ARMHIIL\u2019s Accra-based Investment Director, Ernest Nyarko, explained, \u201canother plus for us with this project is that its location in Takoradi is reasonably close to Aboadze where ARMHIF is an equity investor in the Amandi IPP, a 192.4MW greenfield\u00a0Power Generation\u00a0\u00a0Plant that is currently\u00a0\u00a0under\u00a0\u00a0construction and scheduled to deliver power into supply in 2019.<\/p>\n

\u201cThe Amandi project will be crucial in helping meet Ghana\u2019s growing power needs, and will be, with its combined cycle technology, one of the most efficient power plants in Ghana. Logistically, the proximity of the two projects should help us keep a closer eye on our investments in Ghana. We expect the Takoradi project to be ARMHIF\u2019s second investment in Ghana. This demonstrates ARMHIF\u2019s long-term\u00a0\u00a0interest in, and commitment\u00a0\u00a0to, the country.\u201d<\/p>\n

ARMHIF is already committed to other West African projects, including as an equity investor in the 459MW Azura-Edo IPP, a Power Generation Plant currently under construction on the outskirts of Benin City in Nigeria and scheduled to deliver power into supply in 2018, ahead of schedule. In addition, ARMHIF is financing the development of a 100MW Solar Photovoltaic AC<\/a> Power Plant in Northern Nigeria, and has several other transport, power, and utilities opportunities in its deal pipeline.<\/p>\n

ARMHIF aims to make a solid contribution to improving infrastructure in West Africa, particularly Nigeria, by smartly and profitably deploying our investors\u2019 capital in infrastructure assets. Our participation in today\u2019s ceremony in Takoradi is in keeping with those objectives\u201d, said Mr Oforiokuma.<\/p>\n<\/p><\/div>\n

Guardian <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

All is set for the development, financing, construction, installation of a world class floating dock and … ARM- Harith Infrastructure Fund to invest in Ghana repairs project<\/span>Read more<\/a><\/p>\n","protected":false},"author":1,"featured_media":5253,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"advanced_seo_description":"","jetpack_seo_html_title":"","jetpack_seo_noindex":false,"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[4],"tags":[519,2890,1399,3058,522,41,15282],"class_list":["post-6540","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-opportunities-in-new-markets","tag-africa","tag-construction","tag-development","tag-location","tag-nigeria","tag-property","tag-ross"],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2017\/07\/Mobilising-infrastructure.jpg?fit=640%2C360&ssl=1","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/amazingproperty.com.ng\/blog\/wp-json\/wp\/v2\/posts\/6540","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/amazingproperty.com.ng\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/amazingproperty.com.ng\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/amazingproperty.com.ng\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/amazingproperty.com.ng\/blog\/wp-json\/wp\/v2\/comments?post=6540"}],"version-history":[{"count":0,"href":"https:\/\/amazingproperty.com.ng\/blog\/wp-json\/wp\/v2\/posts\/6540\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/amazingproperty.com.ng\/blog\/wp-json\/wp\/v2\/media\/5253"}],"wp:attachment":[{"href":"https:\/\/amazingproperty.com.ng\/blog\/wp-json\/wp\/v2\/media?parent=6540"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/amazingproperty.com.ng\/blog\/wp-json\/wp\/v2\/categories?post=6540"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/amazingproperty.com.ng\/blog\/wp-json\/wp\/v2\/tags?post=6540"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}