- Ethiopia's new USD 120 Million Conference Center in Addis Ababa
- Govt set to construct Down UB market in Luapula Province, Zambia
- US$70m upgrade to be done at MOI international Airport
- Accra SkyTrain project contract of US $3bn signed by Ghana
- KONE Primed To Gear Up Global Trade Centre In Nairobi, Kenya
- Ethiopia construction industry bullish on growth
- Tanzanian economy expected to grow rapidly in 2018-19
- Construction of Ethiopia’s Berbera Port set to kick start this October
- East Africa infrastructure construction to grow sharply over next 5 years
- Tanzania open for investments, aims for an industry driven economy
Accra SkyTrain project contract of US $3bn signed by Ghana
The government of Ghana along with South African firm Africa Investment (AI) have signed a Memorandum of Understanding (MoU), to construct the Accra Sky Train project at a whopping cost of US $3bn.
Mr. Joe Gharte, Ghana’s Railways Development Minister confirmed the reports and advised that the Sky Train Project was the solution to the increasing traffic congestion in Accra. He further explained that the US $3bn deal signed would last 9 months.
A feasibility test of the project will be done by (Ai) SkyTrain Consortium, after which a concessionary agreement would be given for approval to the Cabinet and Parliament in 45 days.
“This will then pave way for the commencement of construction by January 2020,” Ghartey added.
He was further stated saying, “There is confidence in the project. The promoters, Ai SkyTrain consortium are very serious, and thus we invited the President himself, to witness the signing. This should assure the investors that the government is firmly behind it. The economics of this project are also good. We are very excited about the prospects,”
With the construction of the SkyTrain, Accra’s public transport system would be significantly improved through an elevated light railway system which would provide low cost transport to it citizens. As reported by World Bank, Ghana requires at least US $2bn per annum over the next decade to fill the infrastructure gap that exists.
The Minister also said that they are exceptionally excited due to the fact that many of the construction works will be done in Ghana, which will create alot of jobs since all the fabrication and construction will be done in the country itself.
President Akufo-Addo, commented that the projects set a good example of intra-Africa co-operation. “In this case it is Ghana and South Africa co-operation, meeting together to deal with the problem of urbanization” he said.
Posted on :04 Dec,2018