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Spanish investor to implement two major projects in Kumasi

botchway April 13, 2019


From Sebastian R. Freiku, Kumasi             .

The PGP Group of Spain is in the final stages of implementing two major projects in Kumasi. The Metropolitan Chief Executive (MCE) of the Kumasi Metropolitan Assembly (KMA), Osei Assibey Antwi, disclosed while delivering the Sessional Address at the 1st Ordinary Meeting of the 4th Session of the 7th Assembly at the KMA Conference Hall on Tuesday April 9, 2019, that three companies are in talks with the Assembly currently to undertake investment projects in the metropolis.

He said PGP Group of Spain, with the support of Manhyia, is in the final stages of discussions for the implementation of two major projects named as the construction of a Waste-to-Energy Recycling Plant and the construction of a Multi-purpose Ultra-Modern Car Park at Adum at an estimated cost of US$19,994,884.72

The Mayor further disclosed that these projects, when completed, would generate revenue of about US$74 million.

He also mentioned Sejorosa Limited as another investor which has shown keen interest in Kumasi, for which it provided the Assembly with a 500 million Euros proof of funding for Kumasi’s redevelopment, which final negotiations are yet to be done.

He also announced that the Assembly had received a “No Objection” from the Ministry of Finance to contract a loan from Fidelity Bank Ghana Limited for the completion of the Krofrom Market Project, which has stalled since 2008.

The KMA boss said the Consultant, Avangarde Design Services, had called the contractors back to site as a result of the green light from the Ministry of Finance.

Briefing the assembly on investment drives, the Mayor said some Chinese investors had also expressed the desire to undertake the construction of an ultra-modern world class hotel complex and international convention centre in Kumasi.

He said the city authorities are in the process of finding suitable land for this project.

Meanwhile, the Covenant of Mayors in Sub-Saharan Africa (Com SSA) of the Global Covenant of Mayors for Climate & Energy (GCoM) has invited the KMA (Kumasi) to join it.

The CoM SSA is an initiative by the European Union to support cities and towns in tackling climate change, and encouraging access to clean and affordable energy in the local communities.

The membership will mobilise and share expertise, know-how, technology and financial resources that complement and strengthen local efforts, scale up capacity, foster innovation, and boost investments.


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