Ghana signs US $3bn deal for the Accra SkyTrain project

Ghana signs US $3bn deal for the Accra SkyTrain project

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.

Also read: Tanzania’s first electric train to commence operation soon

Feasibility study

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.”

 

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6 COMMENTS

  1. Ghana use that $3b to built SGR from Tema port northward to your northern neighbors, it will make more economic sense , $3b for city train is not viable at all. Kenya and Ethiopia have used the same $3b to built over 500km of SGR

  2. The railway to the northern border and further to the capital of Burkina Faso is funded from another source. That project funding is separate from the Accra Skyline project. That is about US$3.0 Billion and it is for a high speed railway to Ouagadougou, in Burkina Faso.

  3. Former Kufour did brag about building this building that and nothing happen only to have urgly Chinese rail. It doesn’t make sense politicians and loot to share mentality is sick oh Ghana.

  4. Well the $3b is not only for the Sky train. The article did not spell out the current railway project in Ghana. There is major Railway project going on in Ghana of which the sky train is part of it. The project is to renovate and build new railway network to connect all the major cities. The sky train is part of the $3b railway project.

  5. Hmm Ghana again $3 billion loan for this.. but what happens to old railways.. our leaders are just misusing the money..the point is (1) our lighting system in Ghana is not stable we can’t denied that is a fact.. 2) some of the roads needs expansion people loosen their love ones cuz of bad roads we’ve the country.. 3) if this high got fixed in the country how do we maintain it. Cuz we’ll are Ghanaians when it comes *Maintenance* or if i should put it this way *Renovation* our leaders in Ghana dnt kow that word.. this whole thing needs to be look at it again we don’t have waste money just bcuz someone wants to benefit from it is fair..GOD bless GHANA

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