President Akufo-Addo has formally cut the sod for the construction and redevelopment of the Takoradi Market, popularly called “Market Circle”.
The construction of the Takoradi Market Circle is a €48 million project, which is being financed by an export credit from Deutsche Bank S.p.A Italy, with export credit guarantee support from SACE, the Italian Export Guarantee Agency.
As part of his two-day tour of the Western and Central Region, the President indicated that Government has meticulously rolled out policies and intervention programmes over the last three years which has invariably affected people nationwide.
“We have expanded infrastructural developments in all regions of the country, and the West Region will attest to the following: construction of the western corridor railway line; construction of Essiama-Nkroful road; expansion and modernization of Takoradi Habour; construction and asphalting of inner-city roads in Sekondi-Takoradi and Tarkwa; and expansion of infrastructure in senior high schools across the region”.
The construction will be undertaken by Messrs Contracta Costruzioni Italia SLR, and will be completed within thirty (30) calendar months. The market when completed will have the following: two thousand, four hundred and eight (2,408) stores; thirty-three (33) restaurants and food courts; bulk breaking areas; visitors parking; union offices; police station; fire station; post office; clinic; administrative offices; waste separation dock; and changing rooms for staff.
According to the President, the redevelopment of the market will address some key concerns which includes underlying cause of fire outbreaks through appropriate specifications, provision of fire detection and combatting systems, an upgrade of the drainage system to alleviate flooding and unsanitary conditions
Additionally, there will be an improvement in social infrastructural facilities such as toilets, covered drainage networks and health post as well as improved waste collection and disposal.
President Akufo-Addo noted that once the project is completed, it will reduce traffic congestion in the surrounding areas of the market by providing on-site bulk breaking facilities and taking such activities off the main Market Circle Road; increase in trading activity due to introduction of visitors parking within the Market Circle; increase the number of rentable shops in the City; and reduce number of vehicular and human points of conflict and congestion around the central business district in the metropolis.
According to President Akufo-Addo, it will “create between 400 to 500 direct jobs and 1,000 to 2,500 indirect jobs… reorganize all the traders in the market, and formalize the informal economy of the central market; and improve safety and security”.
He, however, urged the contractor to complete the project on time and on budget, and cautioned traders and shoppers alike in the central market, to provide and maintain a high sanitary level and also friendly working atmosphere for the contractor, to enable him deliver the project on time.
