US$243.6 million approved bY Parliament Supplier’s Credit for trains

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Parliament has endorsed a measure of US$243.6 million, being Supplier’s Credit Agreement among Ghana and Dongfang Electric International Corporation, for the acquirement of Standard Gauge moving stock (trains).

The terms and states of the Agreement are that the office adds up to US$243,600,000, reimbursement time of 10 years, residency of 12 years, an elegance time of two years, loan fee of a half year and Sinosure premium of up to 7 percent of the Supplier’s Credit.

Executive of the Finance Committee, Dr Mark Assibey-Yeboah, introducing the Committee’s report in Parliament, expressed that the moment Credit Agreement was to back the procurement of standard measure moving stock to empower the testing, appointing and quick activity of the new standard check railroad lines right now under development in the nation.

He clarified that the extent of the agreement incorporates the gracefully of nine 4500HP mainline diesel trains with a most extreme speed of 160km/hr for travelers, the flexibly of 48 traveler mentors, 15 mainline diesel trains for cargo, 330 cargo carts and 11 Shunting diesel trains.

As a feature of the agreement, the Supplier is to gracefully the extras and instruments alongside the trains and moving stocks inside a two years guarantee period.

Dr Assibey-Yeboah showed that the agreement likewise indicated the foundation of one support workshop with upkeep hardware at an area to be dictated by the buyer, and arrangement of After Sales Services to ensure ordinary and legitimate upkeep of the trains during the operational period.

He said the Supplier is additionally expected to give preparing to talented faculty or railroad specialists and chiefs in all parts of the moving stock frameworks including train plan, activity and support.

Dr Assibey-Yeboah said the agreement for the development of the 97km railroad line from the Port of Tema to Mpakadan was relied upon to be finished in front of the authoritative fruition date of July, 2021.

He said the agreement, in any case, did exclude the gracefully of moving stock to test and operationalise the line upon fruition.

He noticed that a portion of the moving stock being financed under the moment Supplier’s Credit Agreement would be utilized to test, commission and operationalise the Tema-Mpakadan rail line.

The Supplier’s financing bundle gives a 100% money related arrangement and there would be no extra budgetary necessity with respect to Government to execute this undertaking, Dr Assibey-Yeboah said.

The Member of Parliament for Tamale Central, Alhaji Inusah Fuseini, expressed that the rail transport should supplement the street transport.

He clarified that if the nation had a proficient and compelling rail transport framework, its streets would last longer as mass load could be moved through rail.

“That is the reason it is essential to help any game plan, which would put moving stock on the lines previously built,” he included


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