Funding shortfalls delay Boankra Integrated and Logistics Terminal – Hon. Frank Amoakohene confirms

Severe capital shortfalls have emerged as the main factor delaying the completion of the Boankra Integrated and Logistics Terminal (BILT), Ashanti Regional Minister Dr. Frank Amoakohene has disclosed.

He said the government, through the Ministry of Finance, was working on a financial roadmap to attract investors and secure the funds needed to complete the facility. Dr. Amoakohene made the disclosure during a site inspection of the project by the Ashanti Regional Security Council (REGSEC).

According to him, the government was prepared to take the necessary steps to ensure that the project, which is expected to contribute significantly to Ghana’s trade and logistics sector, is completed.

“The government is prepared to explore every avenue to support this project,” he emphasised.

Dr. Amoakohene explained that although BILT was not originally designed as a state-funded project, direct government intervention had become necessary to protect investments already made and ensure that the facility reaches completion.

He said efforts were therefore underway to mobilise the required capital and bring the first phase of the project to fruition.

Phase one about 65 per cent complete.
The first phase of the Boankra Integrated and Logistics Terminal is currently about 65 per cent complete, with commercial operations expected to begin immediately after the completion of the initial infrastructure.

The minister said work on the second phase would begin after the primary facilities are completed.

Dr. Amoakohene commended Justmoh Construction Limited, the lead contractor, for maintaining work on the site despite the financial challenges.

The Chief Executive Officer of the company, Dr. Justice Amoh, confirmed that interruptions in funding remained the single biggest bottleneck affecting the project’s completion timeline.

Meanwhile, the Chief Executive Officer of the Ghana Shippers Authority, Prof. Ransford Edward Gyampo, welcomed the government’s intervention.

He said the pace of construction would increase significantly once sustainable funding was secured, stressing that the completed facility would serve as an important trade and transit hub to facilitate the movement of freight between Ghana’s coastal seaports and the central parts of the country.

Source: Ghana/otecfmmghana.com/Francis Appiah