President Nana Addo Dankwa Akufo-Addo has broken ground for the reconstruction of the Accra-Tema Motorway extension project.
The project, which will cost about $350million is being undertaken by a fully owned Ghanaian firm, Messers Maripoma Limited under a Public Private Partnership (PPA) arrangement.
Expected to be completed within 36 months after commencement, the scope of work includes a 10-lane, the reconstruction of the Tetteh Quarshie Interchange, construction of a new Teshie Link Interchange, construction of a new Community 18 interchange, construction of a new Lashibi Interchange and integration of the Flower Pot Interchange, Ashaiman interchange and Tema Interchange.
Speaking at the sod-cutting ceremony, President Akufo-Addo said the commencement of the construction of the motorway is a day of progress and promise since the project holds great importance for the nation.
The President said the Accra-Tema Motorway which was commissioned in 1965 by the country's first president, Dr Kwame Nkrumah and served as a vital artery for the country's development for nearly six decades.
"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, he said the time has come for the country to renew this legacy and ensure that the road continues to serve the people of Ghana for generations to come."
The reconstruction of the motorway, according to President Akufo-Addo, is the beginning of a bold and innovative approach to infrastructure development through (PPP), an arrangement in the history of Ghana'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 emphasised.
The PPP model, the President indicated, exemplifies the ideals of efficiency, sustainability and fiscal responsibility while ensuring that world-class infrastructure is 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 underscored.
"Our purpose at this gathering is for the commencement of the construction of Section 1, a critical segment that will pave the way for enhanced connectivity and economic growth," he explained.
The Minister of Finance, Mohammed Amin Adam, reiterated that the road project being delivered is 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 the arrangement.
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This PPP arrangement, according to the Finance Minister, represents 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 Amin Adam said through the strategic leadership of the government and the Ghana Infrastructure Investment Fund, an amount of $380 million had been secured in equity and viability gap funding.
He added, "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, Mr Assenso Boakye explained that once completed, the Accra-Tema Motorway would significantly enhance the movement of goods and services between the capital city and the Tema Port, stimulate economic activity and improve the quality of life of the Ghanaian.
"This project will also create jobs, improve the skills of Ghanaians who will be engaged in the works, and serve as a blueprint for future infrastructure developments across the country," he said.
