Government has signed the $2.3bn concession for Accra SkyTrain Project, with first station to open in nine months.
The deal was signed on the sidelines of the ongoing African Investment Forum, on Monday.
At the signing ceremony, President Akufo-Addo described it as “a happy day for Ghana and her good people.”
In his remarks at the signing ceremony, Minister for Railways Development, Joe Ghartey indicated that the vision of the President as far as railway transportation is concerned, included the construction of inner city rails. He added that other approvals needed for the project to fully take off will be given to make sure that actual construction starts.
“What we have signed today is a concession agreement but we still have some work to do. We will work hard and work together. We think it is achievable, we must make it work,” Joe Ghartey said.
President of the African Development Bank
President of the African Development Bank, Akinwumi Adesina, in his remarks said President Akufo Addo’s personal engagement and leadership has made the signing of the concession agreement possible, saying, He further stated that the African Development Bank (AfDB) will continue to work with all other partners in the Consortium to make the Project a reality.
“What you are witnessing today is very significant in another sense, this is Africa to Africa investment. This is an investment of 2.3 billion dollars made up of a consortium of South African investors that are investing in another African country.”
About Sky Trains
Sky train systems are pre-fabricated using precision moulded, pre – stressed reinforced concrete components that are capable of being installed at a very rapid rate, meaning that there is minimal disruption and congestion in the urban area that is undergoing installation and commissioning.
The proposed sky train initiative in Accra provides for the development of five (5) routes, four (4) of which are comprised of radial routes that originate at the proposed sky train terminal, at the heart of Accra, at a newly developed Kwame Nkrumah circle, and one (1) route that provides and intra-city commuter loop distribution service, also emanating from Circle. The project envisages a total track length across all routes of 194 kilometres.