Reports say barring any last minute difficulties, the much-anticipated sod-cutting ceremony for work to begin on the 10 billion dollar STX Housing project will happen on January 27, 2011.
The ceremony was originally expected to have come-off late last year.
But, a combination of factors — including delays in signing the two major agreements covering the deal — stalled the take-off of work on the project.
The two agreements — the Suppliers Credit Agreement and the Engineering Procurement and Construction Agreement — were eventually signed by the parties in the latter part of 2010, paving way for the upcoming sod-cutting ceremony.
Citi News sources say the sod-cutting ceremony will take place at the Tesano Police Training School in Accra.
It is also not clear if the President of South Korea will attend the ceremony.
It was originally planned that Lee Myung-bak would attend the sod-cutting ceremony, which was to have come off last year but was postponed due to difficulties in signing the agreements covering the project.
At a brief but well attended ceremony to sign the two agreements last year the Korean Ambassador to Ghana, Lee San Hak, was optimistic that the STX with the support of government will meet the target of constructing 200,000 housing units in Ghana within five years.
The Chairman of the STX Group Duk-Soo Kang said the company will ensure that the first 30,000 housing units will be constructed early.