$2m spent on $3bn Sky Train project but feasibility studies inconclusive - Auditor-General

Government is said to have spent some $2 million on the Sky Train project.

This, according to the Auditor-General, was executed through the Ghana Infrastructure Investment Fund’s acquisition of 10 ordinary shares in the Special Purpose Vehicle (SPV), Ai Sky Train Consortium Holdings, valued at the said amount.

“The feasibility studies which will better inform the project economics and required approvals from the Cabinet of Ghana and the Parliament of Ghana are still not conclusive,” the Auditor-General said.

‘It isn’t possible, there won’t be any sky train in Ghana’ – Peter Amewu

In 2018, Africa Investor Holdings Limited incorporated a Special Purpose Vehicle (SPV) in Mauritius to establish the Ghana Sky Train Limited to develop the Accra Sky Train Project through a Design, Build, Finance and Operate arrangement.

Prior to Peter Amewu’s comments, Transport Minister Kwaku Ofori Asiamah, during the ministerial vetting process, indicated that processes are still ongoing for government to construct the sky train project as a means of transport in the country.

Meanwhile, despite receiving the money in February 2019, the SPV, Ai Sky Train Consortium Holdings, is yet to obtain a licence for “Aeromovel Technology’ required for the Sky Train Project.