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Business News of Wednesday, 6 February 2013

Source: myjoyonline.com

US Group to build multi-purpose commercial city in Accra

A US Group of Companies has entered into a preliminary agreement with the China National Electronic Import and Export Southwest Company Ltd (CEIESC) to construct a multi-purpose commercial city at Dawa in the Dangme West District of the Greater-Accra Region.

The multi-million dollar project will serve as a one-stop shop for commercial activities, ranging from the supply of products from manufacturers across the world, multi-floor state-of-the-art shopping malls, recreational facilities, residential facilities to schools and hospitals.

To be known as the Mediciné International Commercial City, the commercial city to be housed on a 159-acre plot, will also include facilities such as six 30-storey high rise hotels made up of two to five-star hotels, a grand shopping mall of 10-storey shops, a sports stadium, artificial canals, central park, television and radio station, yatch and boat services and replete with helicopter pads.

The Executive Chairman of the US Group of Companies, Mr Chief Godfred Mediciné, who disclosed this to a section of the press after signing the preliminary agreement with his Chinese partners, said the city would also include 502-acre plot for private residential facilities.

He explained that the project would be executed with support from China National Electronic Import and Export Southwest Company Ltd (CEIESC).

The turn-key project is scheduled to start in the first half of the year. The US Group is executing the project under an Engineer, Procure Construct and Finance (EPC+F) basis, with finance from the China Export and Import Bank (EXIM) finance.

Mr Mediciné, who has several companies including purified drinking water, tilapia investments and money lending companies, said the objective was to provide a reliable source of supply for all kinds of goods and services.

The location of the project is expected to open the Dawa and Dangme West area to accelerated commercial activities.

The huge commercial and recreational appeal of the MICC also lends credence to the construction of a new international airport at Prampram and link the two cities to Accra, and provide employment to Ghanaian right from Aflao to Accra.

The MICC is estimated to generate employment for about 4,000 Ghanaians at the construction stage and more than one million permanent workers, ranging from the highly skilled workers to moderately skilled employees.

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