US$ 2.6 bn HSR concession agreement signed in Africa
The Government of Ghana has signed the concession agreement for the construction of a much anticipated high-speed railway in Accra, Ghana’s capital. The signing took place on the opening day of the second Africa Investment Forum last week.
The Accra Sky train project is backed by the African Development Bank. The Accra Skytrain project, representing an investment of US$2.6 billion, is a high-capacity public transport system that is completely automated and cost-efficient public mass transit system that will use air propulsion technology to drive lightweight, high passenger volume vehicles. The system will transport more than 380,000 passengers annually and create some 5,000 jobs during its implementation phase.
Sky train systems are pre-fabricated using precision moulded, pre-stressed reinforced concrete components that are capable of being installed at a very rapid rate, meaning that there is minimal disruption and congestion in the urban area that is undergoing installation and commissioning.
The agreement was signed with the African Investment SkyTrain Consortium of South Africa which consists of Wilson Bayly Holmes, a construction engineering company in South Africa; BUNENGI Group, a project development company focused on developing projects in infrastructure; and Ai Capital, the investment and financing arm of the Ai Group, one of the most in influential international investment banking advisory groups focused on Africa.
The project objective is to develop, finance and operate environmentally friendly, elevated, passenger & freight transit systems. The project will involve the development of five routes. Four of them will be radial routes that originate at the proposed sky train terminal at a newly developed Kwame Nkrumah circle, and one route will provide and intra-city commuter loop distribution service. The project will have a total track length of 194km across all routes.
Ghana Investment Promotion Centre CEO Yofi Grant expressed confidence that the project would reach financial close by this time next year.
Investors are confident that the first station for the Accra SkyTrain project will be opened in 9 months.
Country news
-
-
April 10, 2019
Concession agreement signed for USD2.2 billion railway PPP project in Ghana
The Ministry of Railways Development in Ghana has signed a US$ 2.2 billion build-operate-transfer concession agreement for the Eastern railway project with the Ghana European Railway Consortium (GERC) on April 4, 2019. The agreement now needs to be approved by the Cabinet and after that placed before the Parlament.
The GERC consists of 16 companies including German Havelländische Eisenbahn and Ralf Blankenbach GmbH, Austrian Voestalpine, Italian Salcef and local company Keteke Group. It is expected that the government will have a 30 percent share in the project.
Read more -
August 10, 2018
Four teams prequalified for the Accra-Tema Motorway PPP
The Government of Ghana, through the Ghana Highway Authority, an agency of the Ministry of Roads and Highways has concluded the prequalification of firms for the upgrading of the Accra-Tema Motorway PPP project.
Read more -
July 02, 2018
Bidders shortlisted for African rail PPP
The Public-Contract Controlling Body of Burkina Faso has announced that a total of 16 consortia have been shortlisted from the initial twenty-five groups that submitted expressions of interest (EOIs).
Read more -
June 20, 2018
Meridian Port Services draws down US$100 million IFC financing for port expansion in Ghana
Meridian Port Services (MPS), the joint venture between Bolloré Transport & Logistics, APM Terminals and the Government of Ghana through the Ghana Ports and Harbors Authority (GPHA), has drawn its first US$100 million from the project financing package arranged by the IFC, a member of the World Bank Group, for the Tema Port expansion project.
Read more -
May 30, 2018
25 EOIs submitted for Ghana-Burkina Faso rail PPP
The Minister of Railway Development in Ghana has announced that twenty-five expressions of interest (EOIs) were received for the Tema Port-Ougadougou railway PPP project to connect Ghana and Burkina Faso.
Read more
