GHANA – Deutsche Bank, Germany’s largest bank, has just opened a €150 million (US$183.51m) credit line guaranteed by the Italian Export Credit Agency (Sace) for the implementation of two projects, including the rehabilitation and expansion of the water supply in Keta.
The Ghana Water Company now has the funds for the implementation of its Keta Water Supply Rehabilitation and Expansion Project in the Volta Region.
The public company is among the beneficiaries of a €150 million (US$183.51m) credit facility recently granted by Deutsche Bank for two projects: the construction of the new Takoradi market and the supply of drinking water to Keta.
Keta’s share in this credit line amounts to €85 million (US$103.99) guaranteed by the Italian Export Credit Agency (Sace).
This drinking water supply project is being implemented by Lesico Infrastructures, the Italian subsidiary of the Israeli construction group Lesico. It is relying on at least 16 Italian small and medium-sized enterprises (SMEs) for the construction of the future facilities.
According to the Ghanaian government, which officially launched work on the project in August 2020, groundwater is saline in the Volta region, making it difficult to use this resource to supply the population.
As part of this project, Lesico Infrastructures and its partners will rehabilitate the Agordome drinking water plant, with a capacity of 7,200 m3 per day. Another drinking water plant will also be built in Keta with a daily capacity of 35,000 m3.
Once the two plants, as well as the transmission pipeline, are completed, a booster station and reservoirs will then be able to meet the current and future water needs of more than 400,000 inhabitants.
In addition to the city of Keta, the current project will bring drinking water to the localities of Kpodze, Kpotame, Vume, Tefle, Sokpoe, Dabala Junction, Tregui, Badadzi, Havedzi, Adzato, Suipe, Adutor, Horvi-Amedzi, Devegodo, Horvi-Kokoroko, Salo, Galo, Agortoe, Kpenu, Lolito, Floto, Lotame and New Town. The new facilities will meet the population’s demand for drinking water at least until 2030.
Liked this article? Subscribe to DealStreet Africa News, our regular email newsletter with the latest news, deals and insights from Africa’s business, economy and more. SUBSCRIBE HERE