Business News of Saturday, 6 April 2019Source: citinewsroom.comGhana finalizes agreement with GERC for $2.2bn Eastern railway projectIt would take three years to complete the projectThe Ministry of Railways Development has reached a Concession Agreement with the Ghana European Railway Consortium (GERC) for the construction of the Eastern Railway line project at the cost of $2.2 billion dollars. GERC is made up of 16 investment companies from Ghana, Germany, Austria, France and Italy. The entire rail line would be electrified, thus the locomotives and coaches would be electric, the first in the country. Mr Kroczek, who is also the Chief Executive Officer, Project Development in Africa, said the funds for the project were from the Government of Germany. “GERC believes that the construction and operations of the Eastern Railway line is a game changer for Ghana,” Mr Agyenim – Boateng, stated.

Source: GhanaWeb April 06, 2019 13:41 UTC