VRA gets $16.2million for transmission lines
The Kuwaiti Fund has decided to give a loan of $16.2million to the Volta River Authority(VRA)for the construction of a 215 kilometre transmission lines to 'evacuate' energy from the Aboadze Thermal Plant at Takoradi to the VRA sub-station at Tema. The successful execution of the project will enable the VRA to ensure uninterrupted supply of electricity even when the water level of the Akosombo Dam is very low as to make it incapable of meeting the national electricity requirement. These were disclosed by Dr Ali Ben-Ahmed, Co-ordinator of the Appraisal Mission from the Kuwaiti Fund, and Dr Charles Wereko-Brobby, Chief Executive of the VRA, at a briefing at the Castle, Osu, in Accra yesterday. The briefing was after Dr Ben-Ahmed had led a delegation to pay a courtesy call on President J. A. Kufuor .
A loan agreement is expected to be signed in Accra tomorrow.
The total cost of the construction of the transmission line project is estimated at $22million.
Dr Wereko-Brobby said the VRA will raise the difference of $5.8million from its own resources to provide the total amount of money required for the project, which is expected to be completed in two years.
He said although the Aboadze Thermal Plant is able to generate between 800 and 1000 megawatts of electricity, the VRA is able to evacuate only 400 because the transmission lines are inadequate.
He described the project as very important to the operations of the VRA since it will enable the authority to ensure uninterrupted supply of energy even when the water level ofthe Akosombo Dam drops.
Dr Ben-Ahmed had earlier told the President that the Kuwaiti Fund helped to sponsor the construction of Kpong Hydro-electric Power, electrification project in the northern sector of the country and the Aboadze Thermal Plant.
He said the mission was assigned to appraise the transmission line project. President Kufuor expressed appreciation to the Kuwaiti Fund for agreeing to provide money for the project.
He further expressed the hope that the necessary approval will be given for the release of the money the project to take off.
In another development the Executive Director of the International Monetary Fund (IMF) for Africa, Mr Abbas Muracor yesterday held discussions with President Kufuor at the Castle.
The discussions which centred on the economy were held behind closed doors. Briefing the press later, Mr Muracor said the major concerns of the President are related to education, health and poverty alleviation as well as raising the capita income.
He said with the economy gradually being brought on track, the IMF and the government are looking at the different approaches to improve on health, education and reduce poverty.