The 15,000-capacity stadium will cover a construction area of about 15,800 square metres will cost an estimated $30 million and will be financed with a Chinese grant.
The project is expected to commence in February 2013 and due for completion within 26 months with Chinese firm, Jiang Xi International as the contractors.
At the signing of the agreement on Thursday, Clement Kofi Humado, Minister of Youth and Sports said Government has approved over Gh¢6.6 million to undertake Ghana’s component of the contract, underlining their commitment to the establishment of the facility.
He said the stadium will boast of facilities including athletics runway, two football fields with natural turf, two outdoor basketball courts, handball court, tennis court, boxing training field, gymnasium, athletes’ hostel, LED Electronic Display and an Audio System.
The initiative he said is in line with Government commitment to provide standard stadia in all regional capitals to enhance the development and promotion of sports in the country.
It will also serve educational institutions and the youth within the central region for their sporting activities.
Gao Wenzhi, Economic and Commercial Counsellor of the Chinese Embassy said the stadium will help meet the demand of regional and continental football championship.
On the contractors, Jiang Xi International; he noted that their experience in the country will play a pivotal role in building a stadium of global standards whilst urging them to fulfill their duty with a high sense of responsibility.
The Cape Coast Stadium will take the nation’s stadia to five after Accra Sports Stadium, Baba Yara Stadium, Essipong Stadium and Tamale Stadium.