The Maritime and Dockworkers Union (MDU) of the Trades Union Congress (TUC) in joint ventureship with private dock companies have formed the The Ghana Dock Company.

Mr Kwabena Owusu Afriyie, General Secretary of the MDU, told the GNA in an interview on Wednesday in Accra that the union has 20 percent shares in the new company.

He said the company would absorb 5,000 casual labourers affected by the on-going Restructuring and Reforms taking place within the Ghana Ports and Harbours Authority.

Mr Afriyie said the union has struck an early retirement package deal with the Authority for workers between the ages of 57 years and 60 years.

This group of workers would take home one-and-a-half months’ salary multiplied by three remaining months of their retiring age.

Mr Afriyie, who is also the Chairman of the African Dockers wing of the International Transport Federation (ITF) said, those below the age of 57 years would be paid three months for each completed year of service.

In all 1,200 workers would be affected, out of which 800 are in Tema and the rest in Takoradi.

He said with the formation of the new company the union would organise seminars and workshops to enhance productivity, "because if there is fast turn round of ships, countries like Burkina Faso, Niger and Mali would be attracted to use Ghana’s ports for exports and imports."