Pres. Mills to sign $273 million loan from China

President John Evans Atta Mills is expected to sign a 273 million dollar loan agreement with the EXIM Bank of China when he pays a state visit to the republic of China in the latter part of September 2010.

The agreement which is being facilitated by the government of China will see to the construction of the Kpong Water Project to provide 40 million gallons of water for those living in that environs. Vice President John Dramani Mahama made the request for action to be expedited on the signing of the agreement when he paid a courtesy call on the Minister of commerce in China.

Ghana’s ambassador to China, Madam Helen Memle Kofi expatiated on the Kpong project.

“The water project by Gazuba Group International, Contractors of the project has been approved by the China EXIM Bank with a contract sum of about 273 million dollars under concessionary loan.

This project is to be signed during his Excellency the president’s visit to China.

The objective of the project is to increase water supply from the Kpong head works to Accra and Tema to improve water delivery to the increasing domestic and industrial users currently facing acute water shortage.

The project will involve the design and construction of a facility with an abstraction capacity of 353,000 cubic metres of water per day. It is likely that the MOU’s of two other projects will be signed.” She said.

Vice President John Dramani Mahama called on the government of China to leverage financing support for infrastructure and also collaborate in investing in the oil and gas industry.

On his part, China’s Minister of Commerce assured the Vice President of intentions to sign the agreement during President John Evans Atta Mill’s State visit to his country adding that the two regional hospital projects have been tabled under their full national health project for consideration.

Source: Citifm

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