Business News of Friday, 6 February 2015
The Tema Free Zone area is expected to soon boast of a world class railway line linking the industrial hub to the Tema Port to facilitate the exportation of finished products out of the country.
LMI group of companies is investing close to 30 million dollars in the project expected to start by the end of May, 2015.
The 12 month project is expected to facilitate trade and significantly reduce the cost involved in transporting goods from the Tema Free Zones area.
The director of LMI Holdings Ernest Owusu-Afari said the railway renewal project is a private initiative to rehabilitate and put in new rail lines from the Tema port to the free zones area.
“The project includes the railway lines and the rolling stock locomotives, everything included”, he added.
He said this will also facilitate the work tenants in the Free Zones area and improve trade and commerce in the country.
The Free Zones Program is designed to promote the processing and manufacturing of goods through the establishment of Export Processing Zones (EPZs), and to encourage the development of commercial and service activities at seaport and airport areas.