Kwasi Amoako Attah – Road minister
Minister of Finance, Ken Ofori-Atta, has said government is set to build key roads to connect all regions in the country.
Presenting the mid-year budget review to Parliament last Thursday, Mr Ofori-Atta said that government, as part of its efforts to transform Ghana’s infrastructure, would construct major roads to connect all the 10 regional capitals, stating that the move would be the catalyst for economic and infrastructural development.
“Ghana faces a major infrastructure deficit in areas such as roads, water, bridges, electricity, hospitals, sanitation, estimated to be in the region of at least US$30 billion, mainly due to the inadequacy of financial resources to undertake the requisite investment. To bridge this gap, a barter agreement, which aims to open up a new financing model for Ghana in undertaking future projects, has been reached with Sinohydro Group Limited of China to provide US$2 billion of infrastructure, including roads, bridges, interchanges, hospitals, housing, rural electrification, in exchange for Ghana’s refined bauxite.”
He said a bauxite refinery would be established within the next three years in collaboration with selected private partners, involving at least 30 percent local participation.
“I will like to assure this august House that the US$2 billion of infrastructure to be provided by Sinohydro would not add to the debt stock, and will involve a moratorium period of three years to give Ghana the time to establish an aluminium refinery. After moratorium period, Ghana will fulfill its part of the barter agreement over another 12-year period.”
By Amanallah Tahiru