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Business News of Tuesday, 23 December 2003

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OPEC assists in railway rehabilitation

The OPEC Fund for International Development has approved an amount of five million dollars, out of an estimated 10 million, for the rehabilitation of the 22-kilometre Accra-Tema Railway line.

The main part of project is the reconstruction of a damaged bridge at Maatetsuru, near the Airport Hills, which after its collapse following a heavy flood had rendered the line unusable for some years now. Professor Christopher Ameyaw-Akumfi, Minister of Railways, Ports and Harbours, announced the approval of the loan on Tuesday, during an inspection of Accra-Tema Railway line.

The Minister's tour took him to Asoprotsonaa Station near Sakumono, a bridge close to the Spintex Bypass at the Parakuo Estate, the Batsonaa Station and the damaged bridge at Maatetsuru, near the Airport Hills. He said the Ministry was still negotiating with investors to raise the rest of the funds, adding that it was better to rehabilitate the rails and raise their value to be in a stronger position for better concessions.

Mr Ben Amofa, Chief Civil Engineer of the Ghana Railways, said the reconstruction of the bridge would take six months and added that the Ghana Highways Authority had completed the designs for the bridge and waiting on necessary papers to be signed for the funds and the project to be put on tender for the selection of a contractor.