President Akufo-Addo reduces his participation in the Tamale exchange

President Nana Addo Dankwa Akufo-Addo Wednesday cut the ground for the construction of the Tamale Interchange, the first to be built in this part of the country.

It is the first phase of the US $ 2 billion Project Support Framework Agreement (MPSA) between the Government and Sinohydro Corporation of China for the construction of several infrastructure projects, including roads , bridges, housing and the extension of electricity in rural communities of the country.

Under the MPSA, which, according to the government, is a barter arrangement; the government will deliver to Sinohydro, manufactured aluminum products from Ghana.

The agreement provided for the creation of the Ghana Integrated Aluminum Development Corporation (GIADC), a statutory state-owned company, to oversee the development and use of the country's entire bauxite value chain.

Speaking at Jubilee Park in Tamale, President Akufo-Akufo said that the establishment of GIADC was to guarantee the country's vibrant aluminum industry, "and guarantee the end of the barter transaction" .

"This innovative arrangement, the first of its kind on the continent, will not increase the total stock of our country's debt," he said.

The Sinohydro Agreement will benefit each of the sixteen (16) regions: hospital projects, extension of electricity in rural communities, construction of courts and residential buildings for the Judiciary, landfills and industrial parks will be undertaken.

President Akufo-Addo explained that these projects were to be implemented on the basis of engineering, procurement and construction (EPC) and would be completed within thirty (30) calendar months of commencement of the works. .

"The government also ensures that, under the Local Content Law, at least 30 percent of the work is done by Ghanaian contractors and overseen by Ghanaian consultants. Thousands and thousands of jobs will be created for our young people, our country will be open to sustained growth and development, thus helping to put Ghana on the path of progress and prosperity, "she said. he adds.

The President has instructed the Ministry of Roads and Roads and its implementing agencies to ensure that all work undertaken is adequately and adequately supervised, to ensure that the country gets value for money and to respect scrupulously the dates of completion.

While urging entrepreneurs to abide by the country's environmental protection laws and take steps to mitigate the negative impacts of projects on the health of citizens, President Akufo-Addo said: "I will not tolerate any delay in the execution and delivery of the various infrastructure projects. Thirty (30) months is thirty (30) months. "

As part of Phase 2 of the Sinohydro Agreement, which will be commissioned after Parliament's approval, 1,300 kilometers of roads, 3 interchanges and 69 additional steel bridges will be constructed, for an estimated $ 850 million. dollars.

Source: ISD (Rex Mainoo Yeboah)