PSC Tema Shipyard Transforms Amidst Challenges
Accra, Jan. 13 – Osman Sulemana, the Chief Executive Officer of Penang Shipbuilding and Construction (PSC) Tema Shipyard Limited, recently shared insights into the shipyard’s remarkable turnaround since he took office in 2025. Initially facing severe operational challenges, including a dilapidated facility, the shipyard has now begun generating revenue and investing in modern equipment and infrastructure. Sulemana’s testimony before the Public Accounts Committee (PAC) of Parliament highlighted the competitive landscape of the shipbuilding industry and the ongoing efforts to address financial concerns raised in the latest Auditor-General’s report.
Revitalization Efforts and Competitive Landscape
Upon assuming leadership, Sulemana described his first impression of the PSC Tema Shipyard as being “welcomed by reptiles,” a stark indication of the facility’s poor condition at the time. However, he emphasized that significant changes have occurred since then. The shipyard is now actively generating revenue, which is being reinvested into acquiring modern equipment and enhancing infrastructure. This revitalization is crucial for maintaining competitiveness against private shipyards in neighboring countries, which pose a significant challenge in the industry.
During his appearance before the PAC, Sulemana underscored the importance of continuous investment in infrastructure to sustain operations and remain competitive. He noted that the shipyard, established in 1965, is Ghana’s leading drydock and ship repair facility. The government has recognized the strategic importance of PSC Tema Shipyard and has intensified efforts to revamp the company, aiming to position it as a key maritime hub in West Africa.
Addressing Financial Concerns and Compliance
In response to inquiries regarding the 2024 Auditor-General’s report, which highlighted financial irregularities, including issues related to sole sourcing of projects, Sulemana assured the PAC that management is taking the necessary steps to rectify these concerns. He stated that corrective measures are being implemented to ensure compliance with procurement regulations. This commitment to transparency and accountability is vital for restoring confidence in the shipyard’s operations and governance.
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As PSC Tema Shipyard continues to evolve, the focus remains on overcoming challenges and enhancing its capabilities. The ongoing support from the government and the proactive measures taken by management are expected to play a significant role in the shipyard’s future success and its contribution to Ghana’s maritime industry.
