Mr Ekram Javad Miller, President of the Intercontinental Development Corporation of the United States of America, on Wednesday expressed interest in investing in the country's rail system.
He said they had already carried out feasibility studies with the Ministry of Transport on rail transport in Accra and were ready to invest a total of $1.5 billion in the construction.
Mr Miller announced this when he called on Vice President John Dramani Mahama to discuss the way forward towards the final implementation of the project.
He said the population of Accra was growing on a daily basis and required alternative transport systems to decongest vehicular traffic in the city.
"Due to heavy traffic in the city… I am told some people spend over three hours travelling from home to office and back and I trust that with the implementation of the rail system, workers would spend a little over 20 minutes for the same journey."
Mr Miller said he had already advanced moves to acquire half of the amount from the United State of America Bank, in addition to his personal funds, to execute the project.
He said the project would create a number of jobs for the youth and reduce workers' monthly expenditure on transport.
Vice President Mahama gave the assurance that government would review its development priority list to include the rail transport system.
He said the Ministry of Finance and Economic Planning would also study the terms of the project and come out with appropriate measures after which it would be taken to parliament for approval.
Vice President Mahama commended the investor for the confidence reposed in Ghana's democratic credentials and expressed the determination to collaborate with them for the execution of the project.
Source: GNA
DISCLAIMER: The Views, Comments, Opinions, Contributions and Statements made by Readers and Contributors on this platform do not necessarily represent the views or policy of Multimedia Group Limited.
Tags:
Latest Stories
-
Keynote speakers arrive in Paris for Women of Valour
2 hours -
Coastal Civil Society Forum engages tidal wave victims, calls for urgent gov’t action
4 hours -
Prosecutors demand Luis Rubiales World Cup kiss retrial
4 hours -
Ghana won’t sink any further, investors must stay – Ishmael Yamson
4 hours -
Dr. Louisa Satekla pays courtesy call on Haruna Iddrisu to promote oral health education
4 hours -
ECB apologises for Pope Francis Ashes post joke
4 hours -
Denmark postal service to stop delivering letters
5 hours -
Photos: Mahama visits victims of tidal waves destruction in Volta region
5 hours -
Teen armed with gun overpowered by passengers onboard plane
5 hours -
Ghana Month: From war airbase to global gateway – KIA’s evolution and Ghana’s airline struggle
5 hours -
Rosetta Quaicoe: Preventing future Cholera outbreaks in Takoradi: A public health imperative
5 hours -
Edward Bawa assumes office as Acting Group CEO & MD of GOIL PLC
5 hours -
Ghana’s economy to face greater external stability in 2025; reserves to hit $8.8bn in 2025
5 hours -
Ghana’s current account balance to remain positive at 1.8% in 2025 – Fitch Solutions
5 hours -
Mahama directs Finance Minister to fund Blekusu Sea Defence Phase II
5 hours