The Government of Ghana and the China National Machinery Import & Export Corporation (CMC) has signed a US $ 6,050 billion contract agreement for the construction of a railway infrastructure from Nsawam through Kumasi to Paga and from Tamale to Yendi.
The contract, which was signed in Accra, yesterday, will enable the first and the second phases of the projects to commence on September 1, 2012 and in June 2014, respectively.
Addressing the delegations from the CMC and Board members of the Ghana Railway Development Authority, the Minister for Transport, Mr. Mike Hammah, noted that good roads and smooth transport system of a country are necessary for the nation’s accelerated economic development.
The Minister pledged the Ministry’s commitment to revamping the railway system to attract investors into the country to improve the economy, and expressed hope the contract will bring a long lasting cordial relationship and collaboration between Ghana and Chinese government.
He was hopeful that the completion of the railway infrastructure will help improve micro economic indicators as well as strengthen the country’s economy, by making the country’s export and import sector more competitive to bring about an improved balance of payment position and create job opportunities for the youth.
The Vice President of the CMC, Zhao Jun, expressed appreciation to Government for the collaboration, and gave the assurance that, with the support and help from the Chinese Government, his company will execute the job satisfactorily.
Mr Daniel K. Markin, a Board member of the Ghana Railway Development Authority, said the completion of the project will open the country to many businesses and reduce road traffic.
He called on all stakeholders and the entire nation to support this project to make the better Ghana agenda achievable.