Takoradi PTC Interchange construction halted over IMF conditions

Construction on the three-tier PTC Interchange in Takoradi has been halted according to a reliable source.

The construction which is about 80 percent done and expected to be completed by July this year hit a snag last Saturday, January 14, 2023.

The PTC Interchange project is being financed through the Master Project Support Agreement between Ghana and the Chinese government undertaken by Sinohydro Corporation.

The agreement is under a barter between Ghana and the Chinese government.

However, one of the major conditions from the International Monetary Fund (IMF) to Ghana for a bailout was to put all barter projects on hold thus affecting the PTC interchange construction.

Speaking to Empire News the Industrial Relation Officer for Construction and Building Materials Workers Union, Elijah Joe Neizer said over 300 workers have been laid off while 16 of the Chinese workers have flown back to their country.

“This was preceded by a meeting that we held with the management of Synohydro Corporation and PTC on January 7, 2023. Now several letters have been written by Synohydro Corporation to the government when they reviewed a circular that was issued by the ministry of finance on December 19, 2022. Prior to that, there had been several conversations from the top hierarchy of China on the IMF negotiation that were going on. There is one conditionality in it which states that all exchange programmes should be halted with immediate effect,” Mr. Neizer stated.

He continued: “The Chinese rushed to the ministry to review the contract or existing arrangement that they have but all proved futile. Over 305 workers have been asked to go home of which all their existing benefits have been calculated to be paid to them by today or tomorrow. As we hope that things will bounce back for us to call the workers back, almost 16 of the Chinese workers have returned to their country.”

Mr. Neizer further stated that some major stakeholders including the Western Regional Minister are working behind the scenes to get the project back on stream to be completed as scheduled.