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Ghana secures $1 billion railway development loan with China

Ghana secures $1 billion railway development loan with China

Two separate contract agreements with the Chinese government have been signed by the Ghanaian government to secure a $1 billion facility to revamp the country’s railways sector.

Joe Ghartey, the Minister of Railways, says the two agreements, of $500 million each, were signed last week in China as a follow-up plan by the country to restore and improve rail transportation.

The Western and Eastern rail lines, totalling 930 km and new lines from Tema to Akosombo, among others, will be constructed under the contracts, according to Ghartey.

Under President Akufo-Addo, 30 new trains have been procured, with the speed of 160 km per hour, compared to the previous 120 km per hour, and will soon arrive the country.

The procurement of the modern trains with automated signals will cost the Government several millions of dollars to replace the outmoded ones.

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