Graphic Business – Revamping railway sector …230 investors jostle for US$21.5bn pie.

 

Over 230 investors across the world have expressed interest in partnering the government to revamp the country’s ailing railway sector, which includes the development of new lines that could include the North-South line, conceived in the 1950s but which has been left on the drawing board.

The investors are aiming to take a stake in the country’s railway sector master plan, which the Ghana Railway Development Authority (GRDA) estimates its full implementation to cost the country about US$21.5 billion.

The amount is needed to procure new coaches, refurbish existing lines and construct additional 4,007.6 kilometers of railway lines across the country.

Because the government at the moment does not have the funds required for the full implementation of the master plan, the Chief Executive Officer of GRDA, Mr Richard Diedong Dombo, said the authority had decided to market the plan in bits to attract investors under a build, own, operate and transfer (BOOT) arrangement.

He told the GRAPHIC BUSINESS that although the authority had not yet put out any tenders or any publications inviting interests, it had received “unsolicited bids from more than 230 investors” willing to take part in the revamping of the sector.

The bids came from individuals, groups and banks across the globe, Mr Dombo said in the interview on August 3.

 



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