- The reconstruction of the Takoradi Market Circle is taking shape well, as phase one is set to be opened in 2023
- The over 100-year-old market needed to undergo reconstruction to meet the demands and standards of today's market
- Ghana's President, Akufo-Addo, inaugurated the project to begin in 2020, with phase one already at a completion rate of 70%
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The over 100-year-old Takoradi Market Circle is an impressive market square with numerous shops and stalls. The market gets its name from shops built to form a circle, where the circle is a road roundabout. The market area covers 1 square kilometre of land and is the Western Region's primary commercial and economic centre.
Due to the market's fragility, the authorities decided to tear it down and rebuild it. Also, the Takoradi Market Central was risky and crowded due to the abundance of improvised flammable materials, illicit electrical connections, and sellers swarming the area.
In 2020, President Addo Dankwa Akufo-Addo gave way to the renovation of the Takoradi Market Circle. The project will cost about GH₵ 430 million, and its funding will come from an export loan from Deutsche Bank S.p.A. Italy, with help from SACE, the Italian export credit agency.
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The market development project is expected to be completed and opened within two and a half years. The new market is projected to have 2,408 stores, 33 restaurants and food courts, and bulk breaking areas.
The building will also comprise a visitors' parking lot, offices, a police and fire station, a post office, a clinic, executive offices, a daycare centre, space for banks and other financial institutions, a waste separation dock, and staff changing rooms.
The new market will also be outfitted with fire detection technology and fire-combating devices to address fire breakouts that were common at the market and are still fresh in people's minds.
Ongoing Construction of Petronia City, National Cathedral and Other Mega Projects Which will Change Ghana
In an earlier story, YEN.com.gh wrote about ongoing projects that will transform Ghana when completed. When finished, some of Ghana's megaprojects, including the National Cathedral and others, would completely reshape the nation.
The multi-million dollar mega projects include museums, smart villages, and enormous structures. The government is committed to improving the nation's infrastructure so it can compete with the finest in the world.
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