The Finance Minister, Ken Ofori-Atta has hinted that government will soon reintroduce road tolls.
According to the Minister, there will be collection of tolls specifically on the Accra-Tema motorway when completed.
He revealed this in his presentation of the mid-year budget in Parliament on Monday, July 25, 2022.
Speechifying before the House, the Minister stated; “The Government of Ghana has made a strategic decision, in line with the Public Private Partnership Act, 2020 (Act 1039) to procure the Accra-Tema Motorway and Extensions Project through GIIF with a mandate to deliver a GIIF-led PPP financing
solution, where maximum funds are raised from the market, but majority ownership of the project remains with GIIF on behalf of the Ghanaian Government.”
Shedding more light on the reinstalling of the road tolls, the Minister emphasized that “the completed road will be tolled to recover the whole life cost of the completed infrastructure as well as pay lenders and provide a return for equity investors”.
“The draft Concession Agreement (CA) between GIIF and MoRH is currently under review by GIIF, MoRH, the Office of the Attorney-General and Ministry of Finance. When completed, the CA is expected to be approved by the PPP Committee, Cabinet and Parliament…The Government of Ghana shall provide funding through GIIF to take equity in the Special Purpose Vehicle to be created by GIIF for the project”, he expounded.
Source: Peacefmonline.com/Ghana
| Disclaimer: Opinions expressed here are those of the writers and do not reflect those of Peacefmonline.com. Peacefmonline.com accepts no responsibility legal or otherwise for their accuracy of content. Please report any inappropriate content to us, and we will evaluate it as a matter of priority. |
Featured Video
