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Business News of Wednesday, 6 February 2013

Source: GNA

Government to spend $1billion CDB loan in Western Region - President Mahama

Government would spend one billion dollars from the Chinese Development Bank on projects in the Western Region to facilitate the development and growth of oil and gas industry, President John Dramani Mahama has announced.

He explained that apart from rehabilitating the Western Railway lines, government would also spend a chunk of the amount on the rehabilitation of the Takoradi Harbour, construct landing sites, roads, and other projects that would facilitate the smooth running of the oil and gas industry.

President Mahama announced this when the Western Region House of Chiefs called on him at the Castle, Osu on Tuesday.

The Chiefs were in the House to congratulate him for his victory in the 2012 general election and to lend their support in the “Better Ghana Agenda Part Two.”

The President said government had retooled the Takoradi Polytechnic to train students on oil and Gas and advised the students to take advantage of the opportunity to study the programme to acquire the expertise that would make them employable in the industry.

President Mahama also gave the assurance that Western Region, which is one of the highest cocoa growing regions would be supported to continue with the activity to supplement the emerging oil and gas sector in the Region.

He appealed to the chiefs to educate the people against the small scale illegal mining that had over the years destroyed the environment and endangered the lives and livelihood of many Ghanaians in the mining areas.

Odeneho Gyapong Ababio II, President of Central Region House of Chiefs, reminded President of the Western Corridor Development programme that would help the region to fast track its development agenda and called for his support in that respect.

He expressed satisfaction that President had promised to work on major roads in the Region and gave the assurance that they would collaborate with him to achieve their development goals.

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