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Company News from Saturday, April 6, 2019
Source: citinewsroom.com
2019-04-06
It would take three years to complete the project
The Ministry of Railway Development has entered into a concession agreement with the Consortium of European Railways of Ghana (GERC) for the construction of the East Railway Line Project at a cost of 2, $ 2 billion.
The 340-kilometer project, which would link the port of Tema to Accra, Koforidua and end in Kumasi; is a construction, operation and transfer (BOT) project, with the State holding 30% of the capital.
It would take three years to complete the project. then the GERC would exploit it for 27 years before handing it over to the government.
The project would involve a link between Bosuso and Kyebi in the eastern region, the proposed bauxite mines in the region, and would also be connected to Boankra's inland port in the Ashanti region.
Negotiations for the construction of new railway lines are at Peduase, Akuapem South District, Akuapem Region, between Joe Ghartey, Minister of Railway Development, and Mr. Heinz Kroczek, GERC representative.
GERC is composed of 16 investment companies from Ghana, Germany, Austria, France and Italy.
Some of these companies are Keteke Group (Ghana), ARISU (Germany), Ralf Bankenbach (Germany), Havellandische Eisenbahn (Germany), Voestalpine (Austria), IPIMED (France) and Salcef (Italy).
As part of this project, GERC is proposing to build a double-line railway with maintenance roads on each side and fencing to protect the railways.
The system would consist of three main stations in Accra, Koforidua and Kumasi; with 30 additional minor stations and stopping points along the line.
The entire railway line would be electrified, so that the locomotives and coaches would be electric, the first of the country.
GERC would also build a tie factory in the country, capable of producing more than 1,000 sleepers a day, the plant employing 550 full-time workers.
Mr. Ghartey said that the outcome of the negotiations would be submitted to Cabinet for approval, after which it would be submitted to Parliament.
He said that in 1898, it had taken five years to build a Takoradi rail in Kumasi. However, in today 's technology era, he hoped that the single line would reach Kumasi by the end of 2020.
The project, the first of its kind in terms of scale, is to be implemented as part of the BOT project in sub-Saharan Africa.
Kroczek, who is also the managing director of Project Development in Africa, said the funds for the project came from the German government.
They would cover all of the technical infrastructure, electrification, stations and rolling stock, among others.
Mr Kroczek said they were determined to keep the project a good example of Ghana-Germany.
The Minister of Planning, Professor George Gyan-Baffour, said the government's goal in railway development was to systematically develop the national rail network as a whole and increase the capacity of the railways. support for industrialization and economic activities across the country.
This would ensure the integration of rail transport with other modes of transport in order to ensure a more sustainable transport system.
Mr. Kwaku Agyenim Boateng, Deputy Minister of Railway Development, who gave an overview of the project, said that during the construction phase, 1,000 to 5,000 jobs would be created by the company. intermediary of construction companies, architects and other service providers.
The operation and management of the train would employ more than 1,000 people.
At completion, the number of pbadengers per day per train would be 12,000 to 18,000 while freight traffic is expected to reach four million metric tons per year.
"GERC believes that the construction and operation of the East Railway line is changing the game for Ghana," said Agyenim – Boateng. "The benefits from the project are expected to increase the country's gross domestic product (GDP) by at least 1.5 percent per year."
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