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Government Signs $3.2 Billion Agreement With South African Company To Revamp Western Rail Line

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In an attempt to revamp the railway system in Ghana, the government has signed an agreement with Messrs Thelo DB of South Africa and Transtech Consult Limited to upgrade the Western Rail Line. 


This is expected to improve passenger and freight mobility.

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The Ghana Railway Company Limited (GRCL) will serve as the rail operator, while the Thelo DB consortium will serve as the rail manager.

The consortium will collaborate with the African Export-Import Bank (Afreximbank) as the financier and mandated lead arranger to structure and mobilize financing for the 300-kilometer Huni Valley to Dunkwa, Awaso, and Nyinahin to Eduadin sections of the Western Railway Line.

Additionally, the agreement will require the rail manager and the rail operator to work together to provide operations and maintenance management of the entire Western Railway Line.

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The undertaking will serve as a framework through which the Thelo DB consortium is appointed as a service provider for the GRCL in relation to the rail project.

The development of the Western Line forms part of the first phase of the railway master plan which is critical to the success of the integrated aluminum industry being promoted by the government.

Stressing the need for an effective railway, the Minister for Railways Development, Peter Amewu noted that the provision of an efficient rail transportation system along the Western corridor would remove some major constraints to economic development through a reduction in freight transport cost and fuel consumption, an extension of the lifespan of the Western corridor roads, reduction in road maintenance cost and also an improvement in road safety.

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“The project is being financed under a €500-million Deutsche Bank credit facility acquired by the Akufo-Addo-led government,” he said.

 

Source:http://TheGhanaReport

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Central Region

Central Expo 2024 Launches in Cape Coast, Event Set for August 31 – September 7

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The Central Region Trade, Tourism, and Investment Fair Expo 2024 was officially launched on Friday, June 14, 2024, at the Regional Coordinating Council’s Banquet Hall in Cape Coast.

President of the Central Regional House of Chiefs, Odeefo Amoakwa Buadu VIII chaired the launch event.

The theme for this year’s Expo is “Connecting Minds, Creating Business Opportunities in the Central Region.”

The week-long event is scheduled to take place from Saturday, August 31, to Saturday, September 7, 2024, at Adisadel College School Park, Cape Coast.

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Since its establishment, Central Expo has significantly contributed to the transformation and unlocking of economic potentials in the central region.

This year’s fair aims to boost global visibility, promote collaborations, and generate revenue for the region.

The event seeks to showcase trade, tourism, and investment opportunities in the Central Region to the public, particularly the financial and business communities across the 22 districts of the region.

Source: Sintim Media

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