$1.5 Billion Investment In Rail Sector

Vice President John Dramani Mahama has assured foreign investors of government’s preparedness to review its list of development plans to ensure that the appropriate investment is made to benefit the people.

One of such development priority list is the rail transport system to alleviate the perennial vehicular traffic situation in Accra and other cities of the country.

Mr. Mahama gave the assurance when Mr. Ekram Javad Miller, President of the Intercontinental Development Corporation of the United States of America, called on him at the Castle, Accra, to announce to him his preparedness to invest over $1.5 billion in the monorail system in Ghana.

He indicated that every development must be tied in to a general plan being executed by the Ministry Transport and therefore whatever plan any investor has should be handled by the sector ministry.

The Vice-President also said the Ministry of Finance and Economic Planning would also study the terms of the project and come out with appropriate measures after which it would be taken to parliament for approval.

Vice President Mahama commended the investor for the confidence he has in the country that encouraged him consider Ghana as the most appropriate to invest in.

For his part, Mr. Miller, said they had already carried out feasibility studies with the Ministry of Transport on rail transport in Accra and were ready to invest a total of $1.5 billion in the construction.

He said the population of Accra was growing on a daily basis and required alternative transport systems to decongest vehicular traffic in the city.

Mr. Miller assured the vice-president of securing the needed facility from the Bank to commence construction , adding that he had already advanced moves to acquire half of the amount from the United State of America Bank, in addition to his personal funds, to execute the project.

He expressed concern over the period workers spend in traffic before going to work, which ultimately affect productivity.


Mr. Miller said the project would create over 1000 jobs for the youth and reduce workers' monthly expenditure on transport.

He was accompanied by Mrs. Dzifa Ativor, Deputy Minister of Transport.







Story: Wisdom Peter Awuku
20/1/11