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General News of Wednesday, April 10, 2019
Source: citinewsroom.com
2019-04-10
The president signed the Sinohydro agreement in September 2018
The $ 1.5 billion road infrastructure project provided for in the Sinohydro Framework Agreement will begin later in the day on Wednesday with President Nana Akufo-Addo cutting ground for the construction of the project. Tamale exchanger.
Main project support was agreed between Ghana and Sinohydro Corporation Limited in 2018 to address major infrastructure challenges in the country.
As part of the global $ 2 billion deal, China's Sinohydro Group Limited will provide the government's chosen infrastructure in exchange for Ghana's refined bauxite.
Ghana will establish a refinery and choose a partner to undertake bauxite refining in accordance with the agreement.
The agreement will finance other infrastructure such as roads, bridges, interchanges, hospitals, housing, railway development and electrification of rural areas.
"We are reviewing these transactions to give us the opportunity to expand and improve our road infrastructure and the development of our country's railways," said President Akufo-Addo in the past.
Although critics demanded that the agreement be revised, adding that this would increase Ghana's outstanding debt, the government insisted that it was a barter agreement that would not cause further clutter. the country.
The parliamentary minority even wrote to the International Monetary Fund (IMF) asking whether a $ 2 billion Chinese deal agreed by the government in exchange for bauxite would add to the country's debt.
Today's lawn cutting ceremony is scheduled to take place at Jubilee Park starting at 9:00 am.
Once completed, the Tamale Exchange will be the first of its kind in northern Ghana.
The kilometer-long interchange will link the Kumasi Road by the Point 7 road, the central taxi rank, the central market intersection with the Melcom and Bolgatanga roads.
This initiative is part of efforts to reduce automobile traffic in the city's central business district as the population grows.
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