More Companies Express Interest In Railway Project

Over 200 local and foreign investors have expressed interest in investing in the railway project, Joe Ghartey, Minister of Railway Development, has said.

Mr Ghartey, who disclosed this at the 'Railway Sector Investment Opportunity meeting by the Ghana – Israel Business Chamber in Accra, said the project will serve the industrial sector and boost the implementation of'One District, One-Factory' policy by making transport of raw materials cheaper.

According to him, an estimated $10 billion would be needed by government to revamp Ghana's dilapidated rail system and also create an economic corridor along the rail lines, after considering the cost of track and associate infrastructure.

The Master Plan, he averred, was a five phased rail development which would cover all regions and pass through various trade districts across Ghana.

“Some figures per a study I reviewed today stated that without rail transport by 2020, one may not be able to get around Accra.”

Explaining the Master Plan to prospective investors at a dinner held at the Israeli Embassy, Joe Ghartey highlighted the benefits to be accrued to both investors and Ghanaians.

He said a project of this sort will enhance the activities of the agricultural, tourism and all other sectors that readily make use of long travels.

Mr. Ghartey said government was commissioning feasibility studies to advise on the mapping of routes for the various railway lines.

“We are in the process of commissioning feasibility study for this plan. This is a proposal by engineers who did the master plan. It passes through Takyiman but the feasibility study can tell us for example that instead of teaching, we should divert so this is the proposal going onto the next stage.”

He expressed concerns over the encroachment of the rail lines but was optimistic the projects would take off smoothly.

–Myjoyonline