Accra, July 25, GNA – Mr Ken Ofori-Atta, the Minister of Finance, has reiterated that despite the revenue-mobilising challenges, President Nana Addo Dankwa Akufo-Addo is determined to fix the nation’s roads.
“Our “Year of Roads” programme is on very much course,” Mr Ofori-Atta stated this in his presentation of the 2022 Mid-Year Review Budget Statement and Economic Policy and Supplementary Estimate of Government.
“Phase I of our Agreement with the Sinohydro Corporation Limited Comprising Engineering, Procurement and Construction (EPC) Contracts for 442 km of roads and two interchanges have made significant progress.
“Others are Tamale Interchange Project completed and commissioned; PTC Roundabout Interchange Project at 35 percent completion and upgrading of selected Feeder Roads in Ashanti and Western Regions completed with a lot more to follow.”
He said the Sunyani Inner City Road works were at 63 per cent completion, adding that other key road and bridge projects were also progressing steadily including the La Beach Road Project (Lots 1 & 2), which includes a three-tier interchange at Nungua, was 34 per cent and 50 per cent complete respectively as of June 2022.
He said the Phase II of the Obetsebi Lamptey Circle Interchange and the flyover on the Accra-Tema Motorway from the Flower Pot (Spintex road) are 57 per cent and 30 per cent complete respectively as of June 2022.
Mr Ofori-Atta said the Kumasi-Lake Roads and Drainage Extension project, extension of the existing Aboabo drain, and construction of the Chirapatere Bus Terminal is at 92 per cent as at end June 2022.
He said the upgrading of Salaga – Ekumdipe – Kpandai Road at 70 per cent completion; while partial Reconstruction of Bawjiase – Adeiso Road – Lot 1 at 98 per cent completion;
The Minister noted that work on the construction of 50 prefabricated bridges to improve connectivity within areas cut off by waterways in all 16 Regions had achieved progress of about 80 per cent.
Touching on Road Financing, the Minister said under the Ministry of Roads and Highways (MoRH) Public-Private Partnership (PPP) programme for road infrastructure, the Design, Build, Finance, Operate, and Maintain (DBFOM) Accra – Tema Motorway and Extension PPP Project (27.7km) is at the procurement stage.
He said site works were expected to commence in September 2022.
“The Government of Ghana has made a strategic decision, in line with the Public Private Partnership Act, 2020 (Act 1039) to procure the Accra-Tema Motorway and Extensions Project through GIIF with a mandate to deliver a GIIF-led PPP financing solution, where maximum funds are raised from the market, but majority ownership of the project remains with GIIF on behalf of the Ghanaian Government,” he said.
He noted that the draft Concession Agreement (CA) between GIIF and MoRH was currently under review by GIIF, MoRH, the Office of the Attorney-General and Ministry of Finance.
He said when completed, the CA was expected to be approved by the PPP Committee, Cabinet and Parliament.
Mr Ofori-Atta said the completed road would be tolled to recover the whole life cost of the completed infrastructure as well as pay lenders and provide a return for equity investors.
He said the Government of Ghana shall provide funding through GIIF to take equity in the Special Purpose Vehicle to be created by GIIF for the project.
GNA