President John Dramani Mahama on Monday inaugurated the newly constructed Kwame Nkrumah Circle Interchange.

“With the opening of this interchange on which at peak hours is used by about 80,000 vehicles and daily it is estimated to be used by about 200,000 vehicles, reducing travelling time between the Ring Road Central and Feo Oyeo Intersection towards the North Industrial Area from two hours to just approximately five minutes, not only are we saving hundreds of millions of cedis in time wasted by the delay and the travel time, but we are also stimulating business and economic activity,” President Mahama said during the inauguration.

The GHS320.2 million project was jointly financed by the Brazilian government and the government of Ghana.

It is expected to carry about 84,000 vehicles a day and constitutes a key bottleneck in the major road network that links the suburban areas of Accra to the central business district.

President Mahama cut the sod for the construction of the three-tier interchange at the Kwame Nkrumah Circle in Accra in October, 2013.