Government is disappointed in the Korean government’s inability to assist its local company STX construction and engineering group to secure the needed funds to kick start the STX housing projects, a Deputy Information Minister, Samuel Okudzeto Ablakwa lamented.<\/p>\n
The construction of some 30 thousand housing units by the Korean construction and engineering group, STX expected to begin early this year seems to be in a limbo as government has not been able to secure the US$1.5 billion needed to kick start the project.<\/p>\n
The opposition New Patriotic Party (NPP) raised issues about the source of funding for the projects arguing that the ambiguities in the contract did not inspire enough confidence that the needed funds will be raised for the project.<\/p>\n
But the ruling National Democratic Congress (NDC) rubbished the NPP’s claims accusing them of scoring cheap political points with the issue.<\/p>\n
The entire project which is valued at ten billion dollars involves the construction of 200 thousand homes; 30 thousand of which will accommodate personnel of the security forces whilst the remaining would be put up on the market for Ghanaians to acquire through a mortgage facility spread over 15 years.<\/p>\n
Apart from the first phase of the project where the government is expected to provide sovereign guarantees to cover the cost, the second and third phase will not be subject to any such guarantees.<\/p>\n
Speaking on Asempa FM’s Ekosii Sen<\/em>programme Wednesday, Samuel Okudzeto Ablakwa who was very peeved with the Korean government said \u201ceven if the Koreans would delay as, the President is looking at other alternatives; we have a plan B”.<\/p>\nAccording to him, considering the challenges the government went through to get the agreement signed, the Korean government must also execute their part of the bargain.<\/p>\n
Mr. Okudzeto Ablakwa noted that, the government by its estimation was expecting that by now, works at the Tesano site, where President Mills broke the ground for the construction of the houses should be at the lantern level.<\/p>\n
He said the government is very disappointed in the turn of events relating to the STX Housing project.<\/p>\n
The Deputy Information Minister who was very optimistic over the Mills administration’s commitment to complete the STX Housing project, took a swipe at the NPP for not completing the affordable housing project they began.<\/p>\n
He stated that \u201cthe NPP will in history be the only political party that had eight years in power and never completed a single housing project\u201d.<\/p>\n
Story by: Adwoa Gyasiwaa\/Myjoyonline.com\/Ghana<\/p>\n<\/div>\n
View post: <\/p>\n","protected":false},"excerpt":{"rendered":"
Government is disappointed in the Korean government’s inability to assist its local company STX construction and engineering group to secure the needed funds to kick start the STX housing projects, a Deputy Information Minister, Samuel Okudzeto Ablakwa lamented. The construction of some 30 thousand housing units by the Korean construction and engineering group, STX expected to begin early this year seems to be in a limbo as government has not been able to secure the US$1.5 billion needed to kick start the project<\/p>\n","protected":false},"author":0,"featured_media":441812,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6],"tags":[],"class_list":{"0":"post-441811","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-local-news"},"yoast_head":"\n
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