Ghana signs $3bn deal for Accra SkyTrain project
Accra, November 16, 2018 (AltAfrica)-The government of Ghana has signed a Memorandum of Understanding (MoU) with South African firm Africa Investment (AI) to construct the Accra Sky Train project at a whopping cost of US $3bn.
Ghana’s Railways Development Minister Mr. Joe Gharte, confirmed the reports and said the Sky Train Project was the solution to the increasing traffic congestion in Accra. He further explained that US $3bn deal signed would last 9 months.
Ai SkyTrain Consortium would do a feasibility test of the project 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,” said Ghartey added.
“There is confidence in the project. The promoters, Ai SkyTrain consortium are very serious, and that is why we invited the President, himself, to witness the signing. This should assure the investors that the government is solidly behind it. The economics of this project are also good. We are very excited about the prospects,” added Mr. Joe Gharte.
Accra’s public transport system
The SkyTrain is expected improve Accra’s public transport system through an elevated light railway system which would provide low cost transport to it citizens. According to World Bank , Ghana requires at least US $2bn per annum over the next decade to fill the infrastructure gap that exists.
“We are exceptionally excited also by the fact that a lot of the construction works will be done in Ghana. It will create a lot of jobs in Ghana, because the fabrication and construction will all be done in Ghana,” said the Minister.
President Akufo-Addo, stated that the projects sets 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.”