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EASTERN RAILWAY PROJECT CLOSE TO REALITY


The Ministry of Railways Development has hit the second stage of its procurement process of getting a qualified investor for the construction of the Eastern railway project in the country.

The search begun with over 40 companies across the world (including Ghanaian companies) expressing their interest to do the job following a global publication inviting bidders for the job on BOT basis.

After a thorough assessment by a team of experts, the number was scaled down to 15 who have just submitted their qualifications for the job.

This is the second stage of the procurement process, though laborious, Hon. Minister Joe Ghartey maintains it is the only way to ensure credibility and ensure corruption comes nowhere near the entire procurement process.

Addressing a pool of competitive investors and their representatives, he explained that the third and final stage will be the Request For Proposal (RFP) and a call for negotiation. This he said is a stage in the search process necessary for critical due diligence on the technical and financial capabilities of the shortlisted investor(s) for the job.

The project which forms part of the Ghana’s railway blueprint is expected to connect Accra, Tema, Koforidua, Boankra to Kumasi.

 Present at the gathering was the Chief Executive Officer of the Ghana Investment Promotion Centre, Mr. Yoofi Grant who is highly hopeful that the 150kmph standard gauge project will ensure rapid economic development to attract multiple investors into the country.