Fifteen global companies bid for Eastern rail project

Accra- Fifteen companies from around the world have put in their bids to build the eastern railways that will link Tema, Accra, Koforidua, and Kumasi.

The companies who expressed interest included; German-France Rail Consortium, Power China, Masz Railway Group, Medaase Consortium, Tfmc Rail, Rail Net International and Frontline Capital Advisor

Per the procurement process, a team, comprising of experts would evaluate the bids basics on the bidders’ track record, financial and technical capacity after which companies that had such potential would be shortlisted.

Mr Joe Ghartey, Minister of Railway Development speaking at a ceremony to ascertain the number of companies who have submitted their bids explained that the final stage would be requested for proposals from the companies and negotiations, adding that, such a process enhances the integrity and eschew corruption.

He noted that government had agreed that the 330kilometre narrow gauge rail project would be financed on a Build, Operate and Transfer (BOT) basis.

Already, the Minister said the government had commenced preparatory works that included the acquisition of land, community mobilisation, and sensitisation to ensure smooth sail of the project.

Mr Ghartey, explained that the project would include the financing, construction, operation and maintenance of the line, the provision of rolling stock, station upgrades, signalling and communication equipment.

He added that the line, which would have a speed of about 150 killometer per hour for passengers, was part of the Ghana Railway Development Authority’s railway master plan.

Mr Yoofi Grants, Chief Executive Officer of Ghana Investment Promotion Centre said railway development was linked to the economic development of a country and, therefore, the expansion of the railway sector would attract more investors into the country.

According to him, the railway industry would help the country to transport agricultural produce and mineral resources easily from the hinterlands to the market centres to boost the economy.

He assured that government would create a favourable business environment for investors to operate.

Source: Ghana News Agency