REMARKS BY HON. DR. OSEI-AKOTO, MINISTER OF STATE, MINISTRY OF FINANCE AND ECONOMIC PLANNING, ON THE OCCASION OF THE SIGNING OF THE CONTRACT FOR THE WESTERN CORRIDOR FEASIBILITY STUDY PROJECT

Your Excellency, the Head of Delegation of the European Communities in Ghana, Hon. Minister of Ports, Harbors and Railways,
Chief Executive, Minerals Commission,
Director, Geological Service Department,
Directors from the various MDAs,
Members of the Press
Distinguished Ladies & Gentlemen:

I am happy to be part of the Signing ceremony of the Western Corridor Feasibility Study project, which is part of the Mining Sector Support Programme (MSSP). The Signing of the contracts for this project today marks the beginning of the transformation of Rail Transport in Ghana.

Your Excellency
Let me begin by acknowledging with gratitude the significant contribution of our development partners, particularly the European Union (EU) to our development process. Since Ghana joined the African, Caribbean and Pacific (ACP) group in 1975, the EU has contributed about Euro 1.0 billion to support various programmes and projects in the country. Today, we have gathered here to witness the Signing of the Western Corridor Feasibility Study project, which is to be carried out under the MSSP which the EU has committed Euro 40 Million for the delivery of about 12 individual projects. These interventions will go a long way to contribute to our ultimate goal of poverty reduction, especially in the transport of people and goods from one place to another.

The MSSP, which has been an important component of the cooperation with Ghana over the past five (5) years, has concentrated on improving the operations of the mining institutions to provide up-to-date geological and geophysical information for the discovery of new mineral resources and formulation of implementable policies.

The overall objective of MSSP include sustenance of the Ghana's mining sector economic performance for overall improvement in the national economy through the discovery of new mineral resources and the gradual replacement and diversification of presently exploited ores.

Distinguished Ladies and Gentlemen
The Western Corridor Feasibility study is to be undertaken with a view to obtaining a clear picture of the investment potential and actions required to upgrade the Western Railway Line and the port of Takoradi. It is also expected to provide strategic directions for the existing railway lines and the likelihood of a future ECOWAS railway line to Burkina Faso, as well as the provision of a possible alternative transport for passengers and commodities. Following the Signing of the Consultancy Service Contract the study would be awarded to Messrs. Bonifica at a contract sum of €1.4 million (equivalent to GHC2,203,702.00) and is expected to last for twelve (12) months.

Your Excellency
The main objective of the Study is to facilitate sound mobility of goods and people on the Western Corridor railways by ensuring stainable development of the region, together with an increased integration in the national economy. It also aims at developing the different aspects of the railway rehabilitation programme coupled with the development of the adjoining infrastructure, i.e. Ports, Dry Port, Railway stations and road network within the existing framework of the Ghanaian National Transport policy.

Your Excellency the Ambassador and Head of the EC Delegation in Ghana, it is gratifying to note that the study is closely aligned to the Government's development agenda in the railway sector and to ensure achievement of the objectives of the Growth and Poverty Reduction Strategy (GPRS II). It is the ultimate desire of all stakeholders and indeed the Government of Ghana that by the end of the project, the following results will be achieved:

The coherence of the resulting study versus the country's macro economic environment and the impact of the study would have been verified .

A draft financial plan showing the various financial possibilities, would have been defined, while the most suitable procurement guidelines would have been formulated and various possible financial packages related to the various project components would have been drafted.

Your Excellency, Distinguished Ladies and Gentlemen,
I wish to reiterate the Government's appreciation to the EU for the immense contribution to the structural transformation of the Ghanaian economy. Finally, I wish to take this opportunity to urge all members of the print and electronic media to facilitate the task of Government by assisting to disseminate information on the project in order to raise awareness of our quest to reduce poverty and raise the standard of living of the Ghanaian people through this initiative Thank you for your attention.