Work on the construction of some 30 thousand housing units by the Korean construction and engineering group, STX is now set to take off by next year. According to the Works and Housing Ministry, all documents covering the project have now been finalized and are awaiting approval by STX. Works and Housing Minister Alban Bagbin disclosed this to Joy Business. He said government is also putting in place measures to ensure that the necessary due diligence is carried out before, during and after the project. “The parties are getting [ready] to come and meet and sign [the agreement], and we are likely to do that next month and start the sod-cutting next month,” he said. Mr Bagbin said a year after the start of construction, 6,000 housing units will be delivered and from thence, 6,000 units will be completed every year for five years. “It is after the five years that government is now called upon to start paying the [loan] plus the interest,” he added. The minister emphasised that actual construction work would be carried out by local firms contrary to reports that it would be done by Koreans. “What STX [Korea] is doing is supporting its local company, STX Engineering and Construction Ghana Ltd to supply the materials and supervise the construction of the houses,” he stressed. The entire project which is valued at ten billion dollars involves the construction of 200 thousand homes; 30 thousand of which will accommodate personnel of the security forces whilst the remaining would be put up on the market for Ghanaians to acquire through a mortgage facility spread over 15 years. Source: Joy Business/Ghana