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Business News of Friday, 22 February 2002

Source: GNA

BUDGET: 604 billion cedis ermarked for wealth creation

The key elements of the government's economic policy for 2002 is to expand and upgrade infrastructure facilities to provide a template for increased economic activity and wealth creation, Finance Minister Yaw Osafo-Maafo, said on Thursday.

In pursuance of this objective a budgetary allocation of 604.1 billion cedis has been provided for infrastructure development.

The bulk of the expenditure, Mr Osafo-Maafo said would be funded from external sources.

Mr Osafo-Maafo said the Ghana Highway Authority would start the reconstruction of the following trunk roads for which funding has been secured:

Accra-Yamoransa; Bole-Bamboi; Apedwa-Bunso; Bonso-Anyinam; Anyinam-Konongo; Tema- Akatsi-Aflao; Kumasi-Techiman and the Axim Junction-Tarkwa road.

The rest are Pantang-Mamfe; Kadjebi-Brewaniase-Oti Damanko; Bibiani-Abuakwa; Bawdie-Asankragwa; Wiaso-Asawinso-Osei Kojokrom; Oda-Nkawkaw and the Tetteh Quarshie Circle-Adenta.

Mr Osafo Maafo said the construction of the Tetteh Quarshie Interchange would also begin this year.

Work, he said, would continue on the following road projects:Takoradi-Agona Junction (28kms); Wenchi-Sampa (30kms) - Phase I and the Tamale-Yendi (43kms).

Mr Osafo-Maafo said the Ghana Highway Authority would undertake 543 kilometres of regravelling; 108 kilometres of spot improvement, 191 kilometres of resealing, 108 kilometres of resurfacing and 135 kilometres of upgrading of roads throughout the country.

In addition, the Department of Feeder Roads would undertake the regravelling, spot improvement, surfacing, rehabilitation and upgrading of 3,198 kilometres of roads under its periodic maintenance programme nationwide.

Roads to be surfaced include: Ekye Amanfro - Amankwakrom; Sokode - Bame; Old Ningo - Lekponguno; Eshiem - Besease Anyinaso; Abosso Wassa - Nkran; Akropong - Kapro-Adankwame; Bawku - Narungu; and Salaga Town Roads.

Mr Osafo-Maafo said the Odumase-Seikwa and Sombo - Sankana roads would be regravelled and rehabilitated, respectively.

The Department of Feeder Roads would further construct 15 bridges in the Western, Volta Central Eastern and Ashanti Regions.

The Department of Urban Roads would continue its main activities of regravelling, resealing, resurfacing, rehabilitation and upgrading of 311 kilometres of roads in the Metropolitan and Municipal Assemblies and the Ga District, he said.

Mr Osafo-Maafo announced that construction works would start on the following in the course of the year: Kwame-Nkrumah Circle - Achimota (Neoplan Road); Adiembra - Inchaban Roads in Sekondi; Tema - Manhean Valco roads; New Over-pass to Ashiaman in the Tema Municipality; and Asafo-Market Interchange; Traffic management facilities in Adum and Kejetia in Kumasi would be installed.