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American Company to invest in Ghana’s rail transport sector

Accra, Jan. 19, GNA – Mr Ekram Javad Miller, President of the Intercontinental Development Corporation of the United States of America, on Wednesday expressed interest in investing in the country’s rail system.

He said they had already carried out feasibility studies with the Ministry of Transport on rail transport in Accra and were ready to invest a total of $1.5 billion in the construction.

Mr Miller announced this when he called on Vice President John Dramani Mahama to discuss the way forward towards the final implementation of the project.

He said the population of Accra was growing on daily basis and required alternative transport systems to decongest vehicular traffic in the city.

“Due to heavy traffic in the city… I am told some people spend over three hours travelling from home to office and back and I trust that with the implementation of the rail system, workers would spend a little over 20 minutes for the same journey.”

Mr Miller said he had already advanced moves to acquire half of the amount from the United State of America Bank, in addition to his personal funds, to execute the project

He said the project would create a number of jobs for the youth and reduce workers’ monthly expenditure on transport.

Vice President Mahama gave the assurance that government would review its development priority list to include the rail transport system.

He said the Ministry of Finance and Economic Planning would also study the terms of the project and come out with appropriate measures after which it would be taken to parliament for approval.

Vice President Mahama commended the investor for the confidence reposed in Ghana’s democratic credentials and expressed the determination to collaborate with them for the execution of the project.

GNA

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