Shama-Ahanta Free Zone project estimated at 12 billion cedis

* Sekondi-Takoradi (Western Region), 16 Feb '99 -

The Shama-Ahanta East Metropolitan Assembly, has drawn up a scheme estimated at about 12 billion cedis to develop the site earmarked for an export processing zone. Announcing this at the second meeting of the first session of the assembly in Sekondi yesterday, Lt. Col. Kaku Korsah, Metropolitan Chief Executive, said the provision of access roads, extension of water, electricity and telephone facilities to the zone would cost about 10 billion cedis. A further two billion cedis would be required to pay compensation to landowners and farmers, whose crops would necessarily have to be destroyed in the course of the implementation of the project.

Lt. Col. Korsah said the assembly plans to invite the banks, private investors and the Free Zone Board to contribute towards the execution of the project as well as selling bonds to raise capital for the project. Lt. Col. Korsah said the assembly is still pursuing its policy of involving the private sector in revenue mobilisation and an aerial survey has provided up-to-date data on all property in the metropolis and their revaluation. He said bills prepared and issued to property owners have however, attracted a number of petitions from landlords, adding that investigations during the last executive committee meeting revealed that the rates have increased by 15 per cent over that of 1998, based on agreement reached with the Landlords Association before the revaluation of their property. Lt. Col.. Korsah said comments from the Land Valuation Board suggest inconclusive consultations and in the view of the assembly this needs serious legal consideration, even though, the rateable values of most of the property are considered to be too low. After careful consideration, the executive committee decided that the property rate bills be withdrawn to enable the general assembly deliberate over the issue and take a decision.

The assembly is of the view that until the new rateable values are approved by the Land Valuation Board, the old rateable values should be used. Lt. Col. Korsah said a total of 5.7 billion cedis will be disbursed through the Department of Urban Roads for road works within the metropolis.