Ghana seeks $12b to $30b for light rail and inter-city link in Accra, Kumasi

Ghana is developing a proposal to seek $12 billion to $30 billion for a light rail line in Accra and an inter-city link in Kumasi.

A report by the Railway Gazette cites New York investment bank Chesterfield Faring saying the Minister responsible for Public-Private Partnerships (PPP), Rashid Pelpuo has appointed it to devise a request for proposals for PPP contracts for the projects.

It is not clear when the appointment was made and whether a contract was signed.

Phase one is provisionally estimated at $12 billion, with the total investment growing to $30 billion over a decade.

The government envisages attracting finance from South Korea, Japan and elsewhere, the report said.

The bank noted that the elevated light rail line would connect a new trade zone and transit oriented development with the airport.

“The main rail line would link Accra and Kumasi in less than one and half hours, compared to up to six hours for the 250 km trip by road. The stations would be at the heart of transit oriented developments, and include shopping, office and hotel facilities and a total of 80,000 residential units, along with parks and gardens,” it says.

Phone calls and SMS by ghanabusinessnews.com to Mr. Pelpuo were not responded to. We also tried to reach Chesterfield Faring in New York and were told CEO Lawrence J Selevan was busy.

We would update the story whenever we received any more information.

By Emmanuel K. Dogbevi