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Mr. Chen Jing (3rd from left), former General Manager of China Gezhouba Company (CGGC) Ghana, explaining a point to Mr. Yu Xuejun (2nd from left), Chairman of the Supervisory Board of the Exim Bank of China, and Mr. Sun Ping (left), vice president of Exim Bank of China, during a visit to the Gezhouba factory in Kpong. Image: Maxwell Ocloo
The Ghana Water Company Limited (GWCL) is currently negotiating a financing agreement with Exim Bank of China to finance the second phase of the Kpong water supply expansion project.
Dr. Clifford A. Braimah, General Manager of GWCL, who revealed this information in Accra last Tuesday, said that $ 373 million was needed for the project to carry capacity for food. factory water at 80 million gallons a day.
According to him, the current production of 40 million gallons a day was terribly inadequate and could not meet the growing consumer demand from the western part of Accra to which the plant belonged.
"The Chinese bank Exim Bank has stated that it can pay 85% of the cost of phase two of the project, so the government also pays 15%." We hope that the Ministry of Finance will speed up the arrangements because of the growing demand for water and we badly need this facility, "he said.
Opportunity
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Dr. Braimah said that when he led a delegation of 15 members of the Bank of China for Export and Export (Exim), the financiers of Phase One of the project, to visit installation as part of due diligence processes for Phase II funding. .
The Chinese delegation was headed by Mr. Yu Xuejun, chairman of the supervisory board of China Exim Bank, and included Vice President of China Exim Bank, Mr. Sun Ping.
Kpong Water Project
The first phase of the Kpong Water Supply Project started in 2010 at a cost of $ 273 million. The Parliament approved a $ 260 million preferential credit agreement to buyers between the Government of Ghana and China through the Exim Bank of China.
The project had a nominal capacity of 80 million gallons of water a day.
Former President John Mahama inaugurated the first phase of the project in December 2014, which resulted in the distribution of water to communities such as Adentan, Madina, Okponglo and surrounding areas, which had experienced an irregular water supply over the past 25 years.
Expansion
The expansion project has been on the drawing board of GWCL for some time now due to lack of funds.
It includes the construction of four additional water pumps and distribution ducts and the renovation of existing ducts to improve the services provided to underserved and unserved communities in this part of the city.
Dr. Braimah explained that the population growth rate in Accra has further encouraged GWCL to meet the domestic and industrial needs of the population.
He expressed the hope that funding for Phase II of the project would be approved to allow the company to meet the demand for 80 million gallon capacity in addition to the 53 million gallons produced by the plant. of Weija Water to serve the people.
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