GPT Infraprojects exploring opportunity in Ghana

City-based infrastructure company GPT Infraprojects Ltd today said it is looking for opportunity to enter the West African market of Ghana, primarily in the railway sector.

"We are now in South Africa and Namibia. We will try to foray into Ghana," GPT chairman D P Tantia said here on the sidelines of an interactive session organised by Bengal Chamber of Commerce and Industry.

GPT Infraprojects is a leading player in railway sleepers.

Tantia expects that Ghana's economic worries will come down by end-2018 and the African nation will be able to put a renewed thrust on infrastructure spending, which will be a good time to enter the market there.

The International Monetary Fund's (IMF) USD 918 million agreement signed in April 2015 to address problems of slow growth, high public deficit and high public debt is supposed to end in December 2018, a Ghanaian trade official said.

The official said that at present the government has restrictions on spending laid by IMF for its close to USD 1 billion assistance but when that comes to an end in December, then the country could see a jump in more execution of projects.

KEC International has received a contract worth USD 400 million in railway project backed by Indian credit line.

Tantia said Ghana's economy was expanding and a lot of interest is envisaged by the Indian companies there.

Ghana High Commissioner to India Michael A N N Oquaye Jnr today said there is lot of similarities between his country and India.

He expected India will play a more aggressive role in supporting Ghana's development.