Five out of the eight contractors, who won the bid to execute the construction of the Krofrom Market initially, have moved to site to ensure the completion of the first phase of the project within the next three months.
The contractors are Messrs Sir Bans Designs and Building Company Limited, Orabek Ghana Limited, A. BEK Limited, Joevid Company Limited, and Messrs Attachy Construction Limited.
The project is being undertaken by the Regional Coordinating Council in conjunction with the Kumasi Metropolitan Assembly (KMA) to increase retail space in the Metropolis.
Tenders for the project, expected to increase retail space in the metropolis, were opened in September 2008, and eight contractors were awarded the contract, and a total of GH¢1,014,558.02 paid to them as at November 2008, as 20 percent mobilisation fee of the contract sum, after about 1,900 traders and 20 transport operators had been displaced to give way to the Jubilee Project.
Official contract documents sighted by the Ashanti File mentioned the contractors as Messrs. Sir Bans Designs and Building Company Limited (GH¢96,862.96), Orabek Ghana Limited (GH¢96,890.30), A. BEK Limited (GH¢96,918.80), Joevid Company Limited (GH¢98,332.96) and Messrs Attachy Construction (GH¢226,946.00).
The rest are Messrs. E. Owusu Mensah & Company (GH¢149,817.31), Messrs. Stanbay Limited (GH¢113,742.59) and Messrs. Jinas Construction Limited (GH¢135,047.28).
The initial estimated cost of the project was GH¢15,001,023.41 in 2008, but it stalled for more than nine years due to the irregular flow of funds.
Realising that the project is viable and self-financing, the management of the Kumasi Metropolitan Assembly (KMA), in 2018, applied to the Ministries of Finance and Economic Planning and the Local Government and Rural Development Ministry, through the Ashanti Regional Coordinating Council, to source funding from the private sector for the completion of the then GH¢15 million quality and first class landmark project.
The five contractors were mobilised for the reconstruction of the project, after the KMA secured a GH¢40 million credit facility from Fidelity Bank, with the support of Otumfuo Osei Tutu II, who provided surety for the repayment of the credit facility for the completion of the project, with a view of boosting the local economy.
The Kumasi Metropolitan Assembly (KMA), through the Special Purpose Vehicle (SPV), will work and pay back the loan facility.
Under the current reconstruction, Messrs Sir Bans Designs and Building Company Limited, Messrs Orabek Ghana Limited, A. BEK Limited, and Joevid Company Limited, have each been paid a contract sum of GH¢1,430,380.21 to execute outstanding works, including masonry, roofing, electrical installations, painting and decoration on the market sheds.
Messrs Attachy Construction Limited is to complete the construction of external and access roads in and around the market at a contract sum of GH¢14,391,648.29.
The contractor will also undertake the market paving works, car park and terminal paving works, construction of fence wall and outer ring road works, as well external services.
The project, situated on a 12-acre plot of land, comprises 72 open market stalls, each containing 32 individual stalls, totaling 2,304 single stalls; with paved walkways and driveways in between the sheds, three shopping blocks which contain anchor spaces for banks, shops, retail outlets, leisure/administrative centre, warehouse, offices, clinic, pharmacies, as well as police/fire station, car park, market stalls, auxiliary floors, space for banks, offices, day care centre, refuse collection sites, and toilet facilities.
The first phase of the project, which includes the construction of washrooms, cold store, bulk breaking point, food courts, fire and police posts on the ground floor, was expected to be completed by March 2010, but was stalled untill the reconstruction efforts were reactivated.
Messrs Avangarde Design Services is providing pre and post-contract consultancy services for the project.
Last Friday, the Mayor of Kumasi, Osei Assibey Antwi, in the company of the contractors and consultant, inspected the steady progress of work on the project.
The post Completion of New Tafo Market in view appeared first on The Chronicle Online.
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