Ghana, Chinese firm sign $314m deal to aid transportation on Volta Lake

All is set for work to begin on the Volta Lake Transport Company Limited (VLTC) as the company has signed a Memorandum of Understanding (MOU) with the China Shipbuilding and Offshore International Company Limited (CSOC), the contractor.

The four-year improved works on the Volta Lake would cost $314 million.

Mr Erik Kweku Yarboi, Managing Director, VLTC, who signed for his outfit, said the project which formed part of the Eastern Corridor Multi Modal Transport project was being funded by the China Development Bank (CBD) with government of Ghana contributing 15 percent.

Details of the projects include 14 landing sites or terminals to link all the small communities along the Volta Lake, two floating docks at Akosombo and Buipe, the construction of ship components and fuel tankers.

The rest are the purchase of three patrol boats to assist in emergencies on the lake, construction of a 400-kilometre stretch of road between Akosombo and Buipe and other engineering, procurement and construction services.

Mrs Dzifa Attivor, Minister of Transport, said the projects would not only enhance safety and improve services  provided by the Lake but would also create employment for the youth in the catchment areas.

She said the projects would enable farmers, who are not able to transport their products from the hinterlands, to do so due to the construction of roads which formed part of the contract.

Mr Yu Jian, Director, CSOC, who signed for his company pledged to deliver and also finish the project on time.

Source: GNA