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Italconstruct International Limited a wholly owned Ghanaian real estate development company, has been awarded the contract of Four Thousand, One Hundred and Twenty (4,120) affordable housing for the public services of Ghana.

On 15th October 2012 Parliament of the Republic of Ghana approved the construction of Four Thousand One Hundred and Twenty (4,120) affordable Housing for the public Services in accordance with the provisions of the constitution, an (ECGD)Loan Agreement between the Government of Ghana, Barclays Bank PLC (as Coordinating MLA) and Her Britannic Majesty's Secretary of State acting by the Export Credits Guarantee Department (ECGD) for the amount of One Hundred And Seventy Million United States Dollars ($170,000,000) for the co-financing of the design and construction, with the prime delivery contractor as NMS Infrastructure Limited, UK.

The project is also being co-financed by 10 Local banks, for the cedi equivalent of Thirty Million United States Dollars (US$30,000,000) to help facilitate the project. The project is expected to commence by December 2012.

SOURCE: ITAL

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