• About Us
  • Contact Us
  • Photo Gallery
  • Privacy Policy
  • Terms of Use
  • Citi TV
Wednesday, March 22, 2023
Citinewsroom - Comprehensive News in Ghana
  • Home
  • News
  • Business
  • Sports
  • Showbiz
  • Coronavirus
  • Infographics
  • Livestream
  • Videos
No Result
View All Result
Citinewsroom - Comprehensive News in Ghana
  • Home
  • News
  • Business
  • Sports
  • Showbiz
  • Coronavirus
  • Infographics
  • Livestream
  • Videos
No Result
View All Result
Citinewsroom - Comprehensive News in Ghana
No Result
View All Result

Ghana signs $2.3bn concession for SkyTrain Project

Delali Adogla-BessabyDelali Adogla-Bessa
November 12, 2019
in Slider, Top Stories
President Akufo-Addo witnessing the signing agreement
ShareShareShareShare

Government has signed the Concession Agreement for the construction of the Accra SkyTrain Project.

The deal was signed on the sidelines of the ongoing African Investment Forum, on Monday.

The signing of the SkyTrain agreement means feasibility studies to determine the bankability of the project will commence soon.

At the signing ceremony, President Akufo-Addo described it as “a happy day for Ghana and her good people.”

He added that it was a “critical step towards the consummation of this project.”

The President further thanked the SkyTrain Consortium for backing the project which “is meeting an important infrastructural need.”

“That is what we are hoping for, so that the people of Ghana benefit from the progress and the relief that a modern system of transport in our capital city is going to bring.”

In his remarks, Minister for Railways Development, Joe Ghartey indicated that the vision of the President 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 construction starts.

“What we have signed 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,” Mr. Ghartey said.

The President of the African Development Bank, Akinwumi Adesina, in his remarks said President Akufo-Addo’s personal engagement and leadership made the signing of the concession agreement possible.

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 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 SkyTrain

SkyTrain 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 SkyTrain initiative in Accra provides for the development of five routes, four of which are comprised of radial routes that originate at the proposed SkyTrain Terminal, at the heart of Accra, at a newly developed Kwame Nkrumah circle, and one 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.

It is expected to ease the increasing road traffic congestion in Accra and boost economic activities in the capital city Accra.

The African Investment SkyTrain Consortium is made up of Wilson Bayly Holmes, a construction engineering company in South Africa; BUNENGI Group, a project development company focused on developing projects in infrastructure; and Ai Capital, the investment and financing arm of the Ai Group, one of the most influential international investment banking advisory groups focused on Africa.

Tags: RailwaysSky trainSouth Africa
Previous Post

Nana Addo stresses need for disciplined spending ahead of election year

Next Post

Newspaper Headlines: Tuesday, November 12, 2019

Next Post

Newspaper Headlines: Tuesday, November 12, 2019

TOP STORIES

Pantang Hospital staff risk their lives to live in dilapidated building

March 22, 2023

ECG disconnects Fabrimetal Company over GH¢28m debt

March 22, 2023

Abuakwa South NDC parliamentary hopeful attacked on his way to file nomination form

March 22, 2023
Load More
ADVERTISEMENT
Citinewsroom – Comprehensive News in Ghana

CitiNewsroom.com is Ghana's leading news website that delivers high quality innovative, alternative news that challenges the status quo.

Archives

Download App

Download

Download

  • About Us
  • Contact Us
  • Photo Gallery
  • Privacy Policy
  • Terms of Use
  • Citi TV

© 2021 All Rights Reserved Citi Newsroom.

No Result
View All Result
  • Home
  • News
  • Business
  • Sports
  • Showbiz
  • Coronavirus
  • Infographics
  • Livestream
  • Videos

© 2021 All Rights Reserved Citi Newsroom.

We use cookies on our website to give you the most relevant experience by remembering your preferences and repeat visits. By clicking “Accept All”, you consent to the use of ALL the cookies. However, you may visit "Cookie Settings" to provide a controlled consent.
Cookie SettingsAccept All
Manage consent

Privacy Overview

This website uses cookies to improve your experience while you navigate through the website. Out of these, the cookies that are categorized as necessary are stored on your browser as they are essential for the working of basic functionalities of the website. We also use third-party cookies that help us analyze and understand how you use this website. These cookies will be stored in your browser only with your consent. You also have the option to opt-out of these cookies. But opting out of some of these cookies may affect your browsing experience.
Necessary
Always Enabled
Necessary cookies are absolutely essential for the website to function properly. These cookies ensure basic functionalities and security features of the website, anonymously.
CookieDurationDescription
cookielawinfo-checkbox-analytics11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Analytics".
cookielawinfo-checkbox-functional11 monthsThe cookie is set by GDPR cookie consent to record the user consent for the cookies in the category "Functional".
cookielawinfo-checkbox-necessary11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookies is used to store the user consent for the cookies in the category "Necessary".
cookielawinfo-checkbox-others11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Other.
cookielawinfo-checkbox-performance11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Performance".
viewed_cookie_policy11 monthsThe cookie is set by the GDPR Cookie Consent plugin and is used to store whether or not user has consented to the use of cookies. It does not store any personal data.
Functional
Functional cookies help to perform certain functionalities like sharing the content of the website on social media platforms, collect feedbacks, and other third-party features.
Performance
Performance cookies are used to understand and analyze the key performance indexes of the website which helps in delivering a better user experience for the visitors.
Analytics
Analytical cookies are used to understand how visitors interact with the website. These cookies help provide information on metrics the number of visitors, bounce rate, traffic source, etc.
Advertisement
Advertisement cookies are used to provide visitors with relevant ads and marketing campaigns. These cookies track visitors across websites and collect information to provide customized ads.
Others
Other uncategorized cookies are those that are being analyzed and have not been classified into a category as yet.
SAVE & ACCEPT