Under the contract, GERC will build the 340km, double-track electrified standard-gauge line within three years, operating it for 27 years before transferring ownership to the Ghanaian government, which has a 30% share in the project.
The project would include the construction of a branch line from Bosuso to Kyebi, providing a link to proposed bauxite mines, and it will also be linked to the inland port at Boankra in the Ashanti Region.
The agreement was made by minister of railways development, Mr Joe Ghartey, and GERC representative, Mr Heinz Kroczek.
GERC consists of 16 companies including Keteke Group (Ghana), Arisu, Ralf Bankenbach, and Havellandische Eisenbahn (Germany), Voestalpine (Austria), Ipimed (France) and Salcef (Italy).
The line will have three major stations in Accra, Koforidua and Kumasi, with 30 smaller stations along the route.
GERC plans to build a sleeper factory in Ghana with capacity to produce more than 1000 sleepers per day, employing 550 full time workers.
The agreement now moves to Ghana’s cabinet for approval, before being put before the government.
The line is being funded using development assistance from the German government.
The line is forecast to carry between 12,000 and 18,000 passengers a day, as well as 4 million tonnes of freight per year.
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