Deputy Korean Prime Minister to visit Ghana

Accra, June 24, GNA - Mr Park Young-June, Deputy South Korean Prime Minister will pay an official visit to Ghana spanning Friday June 25 to Sunday June 27.

The visit is aimed at deepening bilateral relations and reconfirm South Korea's support for the STX Ghana National Housing Project.

A statement issued by Mr Bernard Kwabena Asamoah, Chief Executive Officer and Managing Partner of STX Engineering and Construction in Accra on Wednesday said the Deputy Prime Minister would hold discussions with his Ghanaian counterpart and inspect the ground breaking site for the construction of the housing units.

Mr Park will also meet with the Ministers of Water Resources, Works and Housing, Defence and also interact with the Leadership of Parliament. Economics STX Factory

The Ghana Housing Project is in two parts. The first component is the construction of 30,000 housing units for Ghana Police Service and Ghana Armed Forces under "Securities Services Housing" scheme. The 170,000 housing units would be constructed for the private sector across the country.

STX is pre-financing the Securities Services Housing with a loan of $1.5 million cedis it has advanced to the Government of Ghana under a Suppliers Credit Facility.

Payment of the facility, which would span 20 years, would attract a two per cent interest rate and a five-year moratorium.