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Friday, September 13, 2024
Business$350m reconstruction of Tema-Motorway project by govt has began

Date:

$350m reconstruction of Tema-Motorway project by govt has began

President Nana Addo Dankwa Akufo-Addo has officially launched the reconstruction and expansion of the Accra-Tema Motorway.

This $350 million project, undertaken through a Public-Private Partnership (PPP) with the fully Ghanaian-owned firm Messrs Maripoma Limited, aims to transform the motorway within 36 months.

The project will include a 10-lane divided highway with fully access-controlled express lanes for through traffic and partially access-controlled urban lanes for local traffic.

Key aspects of the project involve reconstructing the Tetteh Quarshie Interchange, building new interchanges at Teshie Link, Community 18, and Lashibi, and integrating existing interchanges at Flower Pot, Ashaiman, and Tema.

Additionally, the project will see the construction of eight toll plazas, ten new footbridges, and the reconstruction of Poland Junction on Liberation Road and Emmanuel Eye Clinic Junction on JJ Rawlings Avenue.

Improvements to drainage systems, street lighting, and street furniture are also planned.

During the inauguration, President Akufo-Addo emphasized the significance of the motorway’s reconstruction, describing it as a symbol of progress with great importance for the nation. He noted that the Accra-Tema Motorway, originally commissioned in 1965 by Ghana’s first president, Kwame Nkrumah, has been a crucial development artery for nearly 60 years.

“Designed with a 50-year lifespan, this iconic road has withstood the test of time, carrying an average of 45,000 vehicles per day, an extraordinary proof of its importance. However, the time has come for us to renew this legacy and ensure that it continues to serve the people of Ghana for generations to come,” he emphasised.

President Akufo-Addo said the reconstruc­tion of the motorway marked the beginning of a bold and innovative approach to infra­structure development in the country through Public Private Partnership (PPP) in the history of the country’s road infrastructure.

“By uniting the expertise and resources of both public and private sectors, and with the strategic backing of the Ghana Infrastructure Investment Fund (GIFT), we are not merely constructing a road, we are building a future,” he stated.

The President noted that PPP model exem­plified the ideals of efficiency, sustainability, and fiscal responsibility while ensuring that world-class infrastructure was delivered.

“The Accra-Tema Motorway, an extension of the PPP project, stands as a symbol of progress, demonstrating Ghana’s capacity to innovate and lead in the realm of infrastruc­ture development,” he said.

He said the reconstruction would be exe­cuted in three distinct sections with section one comprising the Accra-Tema Motorway Roundabout to the Tetteh Quarshie Inter­change, while section two would include the Tetteh Quarshie Interchange to the Apenkwa Interchange with section three comprising the Apenkwa Interchange to Neoplan Junction on the Ac­cra-Kumasi Road.

“Our purpose at this gathering is for the commencement of the construction of Sec­tion One, a critical segment that will pave the way for enhanced connectivity and economic growth,” he explained.

The Minister of Finance, Mohammed Amin Adam, explained that the project was being delivered under a PPP arrangement between the Government of Ghana, acting through the Ghana Highways Authority on one hand, and AT Express Limited on the other hand, under a 30-year design finance build, operate, and maintain arrangement.

He said this arrangements represented a new bold initiative of delivering world-class in­frastructure, leveraging the country’s sovereign wealth fund, the Ghana Infrastructure Invest­ment Fund, whilst ensuring value for money for the Ghanaian taxpayers.

Mr Adam said through the strategic leadership of government and the Ghana Infrastructure Investment Fund, an amount of $380 million had been secured in equity and viability gap funding adding that “Moreover, by relying on a PPP approach, we can invite financial institutions and a wide range of investors to further contribute to financing our nation’s future.”

The Minister of Roads and Highways, Francis Asenso Boakye on his part, said the project would be executed according to specifications and on time.

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