Friday, July 24, 2015

Kampac seals $1.6b railway deal in Ghana: Retrospect-6th Aug. 2007

CONSORTIUM led by Dubai-based Kampac Oil Company, has signed a $1.6 billion contract with the Ghana Railway Corporation for a railway project in the Western part of Ghana.

The 35-year contract involves the construction of 800 kilometres of new railway lines and the rehabilitation of 400 kilometres of existing lines. The construction of the new lines between Takoradi and Hamile in the Upper West Region will begin in December.

The Minister of Ports, Railways and Harbours, Professor Christopher Ameyaw Ekumfi said the contract heralds a new era in cross-border investment and economic cooperation between the United Arab Emirate (UAE) and Ghana. “The awarding of this contract marks the fulfilment of the government's policy to extend the country's rail network to the northern parts of the country,” he said.

Under the terms of the contract, Kampac Oil ME will design, build, operate and transfer the 800 km rail line from Takoradi to Hamile to the government.

Kampac has secured the mineral and mining rights for key proven reserves valued at more than $2 billion as part of the concession.

The consortium also includes the Jebel Ali-based Gulf African Project Co. Ltd., Dubai's Suresh Trading Co., the China National Machinery Import and Export Corporation, Trans-tech Engineering Corporation, Manferrotaal, Rail One of Germany, Pasiner Edustrial Tesisler Sanayi Ve Ticaret A.S. of Turkey, R.H. Railway Consultants, Consolidated Power Projects (Ptg), Geneva-based Optima Asset Management Co., and Smice International.

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