Mike Ocquye exchanging the signed agreement with Steffen Kuhl
The Ghana Free Zones Authority (GFZA) has secured GH¢21.5m (€1,657,509) in grant to enhance the water and sewage system at the Tema Export Processing Zone (TEPZ).
The grant provided by the Facility Investing for Employment (IFE) on behalf of the KfW Development Bank and the German Federal Ministry for Economic Co-operation and Development (BMZ), seeks to meet the current water demand of 7,512 m3/day for industrial companies located in the industrial park.
The grant will specifically be used for the construction of a new water storage facility composed of a 6,800m3 underground tank and a 2,273m3 overhead tank as well as a pumping station.
The total cost of the project is estimated at GH¢23.9m (€1,841,677) with the IFE contributing 90% of the cost and the GFZA contributing the remaining 10% cost – GH¢2.39m (€184,168).
Speaking during the Grant Signing Ceremony Chief Executive Officer of the GFZA, Mike Ocquye, noted the construction of the new water and sewage system is expected to create some 1,500 direct jobs and 6,000 indirect jobs.
“The Tema Export Processing Zone is faced with some infrastructural challenges which include inadequate water supply to companies located in the zone.
“It is a good thing that IFE has identified this particular challenge for which it has decided to support and deal with the challenge by providing the GFZA with this grant,” he remarked.
“Aside from the Tema Export Processing Zone (TEPZ), there are other four industrial zones in the country under the supervision of the GFZA that also have some infrastructural challenges, and as such the GFZA would be glad to receive continuous support from the IFE to tackle these infrastructural challenges at the other four industrial zones,” he added.
Managing Director for IFE, Steffen Kuhl, expressed the IFE’s commitment to ensuring the successful completion of the water and sewage system at the Tema Export Processing Zone (TEPZ) and providing more grants to Ghana for various projects.
“Water in an industrial zone is of utmost importance and that’s why the IFE is happy to provide this grant to the GFZA. By the end of next year (2024) the IFE is looking at disbursing over €50m in grants for nine projects in Ghana,” he quipped.
Present at the signing ceremony was Deputy Minister for Trade and Industry and former CEO of the GFZA, Michael Baafi, who expressed gratitude to the IFE for the grant support.
By Jamila Akweley Okertchiri