Business

China grants $66 million for Jamestown Port, others

China grants $66 million for Jamestown Port, others As part of the bilateral agreement, the Government of the People’s Republic of China is providing a grant of about $16.0 million to Ghana for the implementation of projects.

Last weekend saw Ghana and China finalizing agreements totalling $66 million to support the Jamestown Fishing Port Complex and the implementation of projects, including the second phase of the University of Health and Allied Sciences.

On the Jamestown Fishing Port Complex, China is providing an amount of about $50 million for the implementation of the project.

Finance Minister Ken Ofori-Atta signed for Ghana while Sun Baohong initialled for China.

The project, which is in three major parts, involves the dredging of 118,000 cubic meters harbour basin and shipping channels; construction of hydraulic structures (about 1,200 meters) composed of berths, Seawall and a breakwater and construction of administration, production and supporting facilities, including an office building, kindergarten, trading market, processing area, commercial area and other production and supporting facilities.

The project is expected to enhance the productivity of the fisher folks and create about 1,000 job opportunities for the teeming youth in the community.

Mr Ofori-Atta said the signing marked another important milestone in the bilateral economic relations between Ghana and the People’s Republic of China, as it reaffirmed commitments and determination to broaden and deepen the bilateral cooperation between the two countries.

He said Ghana currently was at a stage in its development trajectory that required massive investments.

On her part, Ms Sun said China and Ghana have been very important development partners, saying bilateral trade between Ghana and China last year reached $6.67 billion and is ranked sixth among 54 African countries.

“China is Ghana’s largest trading partner and Ghana’s export to China surpassed $1.85 billion and registered an increase of over 41 percent,” she said.

Last year, China’s financial investment in Ghana reached $123 million and they have invested in 25 projects, the number of the projects ranked top among all the foreign investment countries.

Madam Sun said China 80 Satellite TV project to 300 Ghanaian villages would be implemented in May while the James Town Fishing Port Complex would kick off within this year.

“We are doing feasibility studies on phase two of University of Health and Allied Sciences now, and we are going to do the feasibility for Cocoa Processing Project in Sefwi Juaboso, and we have begun the donation of police vehicles and equipment,” she said.

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