You are here: HomeNews2015 12 21Article 402289

Business News of Monday, 21 December 2015

Source: Graphic.com.gh

TDC to operate a limited liability company

Cabinet has approved the conversion of the status of the Tema Development Corporation (TDC) to a limited liability company.

By this approval, TDC has been empowered to move into other parts of the country and extend its professional experiences towards the country’s development schemes.

The Managing Director of TDC, Mr Joe Abbey who announced this at a thanksgiving service organized by the corporation said the process would be completed with the Ministry of Finance for the full takeoff in 2016.

He explained that by becoming limited liability company, TDC would no longer be seen as having a dead end in its operation due to the exhaustion of land in the Tema acquisition area, but make use of its expertise in other parts of the country.

Touching on projects embarked on during the year in review, Mr Abbey mentioned the first phase of construction of four blocks of eight storey flats at site three, Community three to turn out 64 two-bedroom apartments which is expected to be completed in 2016.

He said work on the initial 24 blocks of flats at the government affordable housing project site at Kpone was nearing completion adding that the Kpone Affordable area would be renamed Community 26 next year when the first batched of houses are inaugurated.

Mr Abbey disclosed that apart from the 24 units that government handed over to TDC for completion, the entire housing project in Kpone has been handed over to the corporation for completion.

He further disclosed that work on the shops and offices complex to provide about 13,200 net rentable floor space including two banking halls at Tema Community two is also near completion by close of the year.

The corporation has earmarked for construction, a multi storey car park adjacent the complex to manage the traffic that will be generated by the activities of the complex.

He said the redevelopment of the Kaiser Flats at Tema Community Four (4) into high rise structures would be commenced in the coming year.

Mr Emmanuel Oko Adjetey, Chairman of the Board of Directors of TDC, commended management and staff of the Corporation for successes chalked in 2014 and urged them to sustained their performance and help in achieving the strategic vision of transforming Tema a better and modern city.

The Tema Diocesan Bishop of the Methodist Church Ghana, Right Reverend Thomas Brown Forson, who officiated the thanksgiving ceremony called for love, compassion, unity and stewardship among workers of TDC in other to see the organisation grow.

The Corporation also took the opportunity to honour long serving workers and retirees. Special awards sponsored by the MD were also presented to outstanding workers from all the departments of the Corporation.