Ghana signs Rail Management Agreement with South African Company

The Ghanaian government signed a Rail Management Agreement with Messrs Thelo Db from South Africa on Monday, August 22, 2022, with the goal of upgrading the infrastructure on the western railway line for efficient and effective operations.

According to the government, the western railway line has a huge potential in terms of haulage of both liquid( BOST is projecting over 1.5 billion litters of oil products along that corridor) and bulk cargo(manganese and bauxite ; projected 7 and 15 million metric tones respectively).

Under the agreement, Ghana Railway company Ltd will act as the Rail Operator and Thelo Db will act as Rail manager who will work with Afriexim bank as the financier and Mandated lead arranger(MLA), to structure and mobilize financing for the development of Huni Valley to Dunkwa, Dunkwa through Awaso and Nyinahin to Eduadin sections of the western railway line covering a total of approximately 300km.

The Ministry of Railways Development indicated that the agreement is further testament to the importance the Akufo-Addo government has placed on our railway sector, It is my hope that the financial closure for the project execution shall be achieved within 6 months of the signing of the rail management agreement.

Board Chairman for Thelo Db, Ronnie Ntuli, in his speech highlighted the importance of the project to the implementation of the African Continental Free Trade Agreement.
President of the Afriexim Bank, Professor Benedict Oramah applauded the government for taking such a bold initiative despite the harsh economic environment.

Also present were South African High Commissioner to Ghana, Her Excellency Grace Jeanet Mason, GRLC Chairman – Daniel Adzorgble, GRCL M.D – Ing Dr. Michael Anyetei, Railway worker’s Union Chairman – Godwill Ntarmah, Chief Director – Desmond Boateng.

By: Rainbowradioonline.com/Ghana

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