AMA secures $750m investment from China

• Posted on May 24, 2016
• by Nana Kwesi Coomson
• Comment

The Accra Metropolitan Assembly (AMA), in partnership with the business community in Shenzhen, Shenzhen City Sacher Investment Company Limited, is set to undertake developmental projects in Accra worth $750 million.

Out of that sum, $150 million will be dedicated to building a solar energy power plant with a capacity of 100MW to power Accra. Another $100 million will be invested in the refinery sector.

The third aspect will see $500 million dedicated to building up a logistics park to help with manufacturing, storage and distribution points to help boost the production sector in the country.

Disclosing the news to the press in a short ceremony, the Accra Metropolitan Chief Executive, Dr Alfred Oko Vanderpuije, stated that aside the $750m investment plan, the city of Shenzhen and Accra have signed a memorandum of understanding to help facilitate cordial business relationships between both entities for mutual benefits.

The Accra MCE also disclosed that the project will make use of about 2000 acres of land, which work has begun frantically to secure.

“The city governments of Shenzhen and Accra will do their utmost to facilitate favourable conditions for co-operation in the areas of science, business and culture, and establish and foster direct contacts between other organisations,” the MOU read.

Dr Oko Vanderpuije recounted that there had been ongoing talks between Shenzhen and the city of Accra since November last year.

He detailed that a group from Shenzhen visited Ghana early this year to prepare the grounds for negotiations to begin, adding that some members of the assembly also visited Shenzhen to finalise the talks.

The Accra MCE noted the two packages will help create more jobs for the citizens of Ghana and also raise the level of Accra to a world-class city, which his outfit has been working on tirelessly.

He urged all parties involved to play their role to ensure that all projects are executed in order to change the fortunes of the country.

Speaking about the rains that have begun in Accra, the Accra MCE noted that dredging will continue to ensure that June 3 is not repeated.

“We will continue our bid to ensure that the floods are minimised to the barest minimum. I urge you too to desist from throwing rubbish into the drains,” he stressed.

The MOU took effect on May 13.

He hinted that another delegation will be sent to Washington DC and Columbus to learn best practices that will be used in improving the fortunes of Accra.

By Emefa Abla ADJEI, Accra