Ghana signs $2.3bn concession for SkyTrain Project

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 “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.”

BBC