President Nana Addo Dankwa Akufo-Addo has cut the sod for the redevelopment of the Takoradi Market Circle, as part of his of two-day working visit to the Western Region.

The £48million project is being financed by Export Credit from Duetches Bank SPAA Italy, with Export Credit Guarantee support from SACE, the Italian Export Guarantee Agency.

It is estimated to be completed within 30 calendar months and would have 2,408 stores, 33 restaurants and food courts, bulk breaking area, visitors parking space, union offices, a police station, fire station, post office, clinic, an administrative offices, waste separation dock and a changing room for staff.

President Akuffo- Addo in an address explained that the redevelopment of the Market and its infrastructure would address the underlying cause of fire outbreaks since appropriate specification including fire detection and combatting system would be provided.

He said the drainage system would also be upgraded to alleviate flooding and unsanitary conditions, improve social infrastructural facilities such as toilets, covered drainage networks and a health post.

It would also improve upon waste collection and disposal, and reduce traffic congestion in the surrounding areas of the market, to provide on sight bulk breaking facilities to take such activities off the main market circle roads.

President Akufo-Addo pointed out that, the project would create between 400 to 500 direct jobs and a 1,000 to 2,500 indirect jobs, adding that security and safety in the market would also be improved.

He urged the contractor to complete the project on time and on budget and also appealed to the traders and shoppers to provide a congenial working atmosphere for the contractor to enable him deliver the project on schedule.

The Minister for Local Government and Rural Development, Hajia Alima Mahama explained that the project when completed would increase the number of leaseable stores, boost the local economy and generate revenue for the Assembly.

She said the redevelopment had become necessary as the market had become congested with inadequate storage facilities, vehicular congestion, inadequate drainages leading to flooding, weak wooden structures, poor electrical works exposing traders to health and safety risks.

"It is for these reasons that the construction of the Takoradi market has become a necessary investment," she stressed.
Hajia Alima Mahama urged the market women to comply with instructions on where they would be relocated to make the work easier and to help complete the work on schedule.

Areas such as Junior Staff Quarters area, ECG pay point at market circle, Main Spain area, Paa grant at New Takoradi road and Osei area at kokompe as some places earmarked for the relocation exercise.

The Western Regional Minister who doubles as the Member of Parliament for Takoradi, Mr. Kwabena Okyere Darko Mensah said the project was in fulfilment of the promise made by the President when he visited the Region in 2017.

He announced that the President had also promised to construct a double road from Sekondi to Takoradi and from Takoradi to Tarkwa.