After the extension construction on the Accra-Tema motorway is finished, users can anticipate having to start paying tolls once more.
The completed road would be tolled to recoup the entire cost, the Finance Minister, Ken Ofori-Atta, stated during the Mid-Year Budget Review.
“Pay lenders and give a return for equity investors” will also be included in the toll.
As part of a policy declaration in the 2022 budget, the national collection of road tolls was suspended.
The Accra-Tema Motorway and Extension PPP Project, which would add 10 lanes under the Public-Private Partnership (PPP) initiative for road infrastructure, is now in the procurement stage.
Site preparations are anticipated to start in September 2022.
In accordance with the Public Private Partnership Act of 2020 (Act 1039), the Minister stated, “The Government of Ghana has made a strategic decision to procure the Accra-Tema Motorway and Extensions Project through GIIF with a mandate to deliver a Ghana Infrastructure Investment Fund-led PPP financing solution, where maximum funds are raised from the market.”
The GIIF will continue to have a majority stake in the project on behalf of the government.
The Minister further mentioned that GIIF, MoRH, the Office of the Attorney General, and the Ministry of Finance are now reviewing the proposed Concession Agreement between GIIF and MoRH.
The PPP Committee, Cabinet, and Parliament are anticipated to adopt the Concession Agreement once it is finished.
Through GIIF, the government is giving cash in exchange for equity in the Special Purpose Vehicle that GIIF will establish for the project.
