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€48 million Takoradi market circle project to be completed in 30 months’ – Akufo-Addo


President of the Republic of Ghana Nana Addo Dankwa Akufo Addo, has said the construction of the Takoradi Market circle project will last for 30 months.

President Nana Addo Dankwa Akufo Addo made these assertion on Wednesday,  August 19, 2020 when he cut the sod for the construction and redevelopment of the Takoradi Market.

The President said“Today, I am here to cut the sod for the construction and redevelopment of the Takoradi Market, popularly called Market Circle. I am particularly happy that this project, which is dear to my heart, is going to commence under the presidency of Nana Addo Dankwa Akufo Addo

Addressing the gathering, the President noted that, over the last three years, eight months, Government has rolled out policies and interventions that have affected the lives and livelihoods of all Ghanaians in all parts of the country.

“We have expanded infrastructural developments in all regions of the country, and the West Region will attest to the following: construction of the western corridor railway line; construction of Essiama-Nkroful road; expansion and modernization of Takoradi Habour; construction and asphalting of inner-city roads in Sekondi-Takoradi and Tarkwa; and expansion of infrastructure in senior high schools across the region,” he said.

The construction of the Takoradi Market Circle is a forty-eight million-euro (€48 million) project, which is being financed by an export credit from Deutsche Bank S.p.A Italy, with export credit guarantee support from SACE, the Italian Export Guarantee Agency.

It will be undertaken by Messrs Contracta Costruzioni Italia SLR, and will be completed within thirty (30) calendar months. It will have the following two thousand, four hundred and eight (2,408) stores; thirty-three (33) restaurants and food courts; bulk breaking areas; visitors parking; union offices; police station; fire station; post office; clinic; administrative offices; waste separation dock; and changing rooms for staff.

The President stated that, the project, once completed, will reduce traffic congestion in the surrounding areas of the market by providing on-site bulk breaking facilities and taking such activities off the main Market Circle Road; increase in trading activity due to introduction of visitors parking within the Market Circle; increase the number of rentable shops in the City; and reduce number of vehicular and human points of conflict and congestion around the central business district in the metropolis.

He said the project will “create between 400 to 500 direct jobs and between 1,000 to 2,500 indirect jobs; reorganize all the traders in the market, and formalize the informal economy of the central market; and improve safety and security”.

He, thus, urged the contractor to complete the project on time and on budget, and appealed to the traders and shoppers, currently in the central market, to provide a congenial working atmosphere for the contractor, to enable it deliver the project on time.

Paa Kweku Eshun



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