Led by Jamila Kwen and BK Asamoah, the president and CEO respectively of GK Holding Company, the developer of the railway project, the delegation includes high-ranking officials from KORAIL, Moody's affiliate Korea Investors Service Inc, Yooshin Engineering Corporation, and Moon Engineering.

The delegation opened their visit with a courtesy call on the Korean ambassador to Ghana, Lee San-pal, followed by a meeting with Ghana's minister of harbours and railways, Christopher Ameyaw-Akufumi.

He admitted companies from several countries and has already been to Ghana to conduct studies, but he was confident the Korean team led by GK Holding would offer the best possible option for a successful completion of the project.

"The government of Ghana is ready to offer the project to any company that demonstrates the proper financial prowess and commitment to the project," he said.

The delegation also met with Vice-President Alu Mahama, himself a trained civil engineer. He said the government is offering every possible support to the project as part of its efforts to develop the country's economy. "We want to see the real action now," he told the delegation and other guests.

Korean engineers began conducting field studies along the proposed route from Accra to Nsawam and Tema. After the first day's survey, Bae Seong-yil, who is leading the team from Korea's Yooshin Engineering, told The Korea Herald that the infrastructure of the current railway system was very poor.

The cost of the development would be more than the estimated $700 million, including related projects. Nevertheless, Bae remained optimistic, "if the Ghanaian people have the confidence, they will be able to achieve everything. The new railway system will bring more opportunities especially to Tema port."

The Kwame Nkrumah University of Science and Technology will also provide the necessary data and information to the Korean expert to complete the feasibility study.

GK's Asamoah said his company decided to work with Korean rail experts and engineers because their technology is probably the most advanced in the world.

"We are confident that this trip will achieve a major technological transfer between Ghana and Korea which has already been recognised by the Ghana government during the recent visit of Sophia Horner-Sam, Ghana's deputy minister for Railways to Korea, and also build confidence in our investors," he said.

The original 304 kilometre Eastern Railway was built in 1923 by the British purposely for the hauling of minerals and cocoa. It has a narrow gauge with a maximum speed of 40 km/h and is now virtually unusable in many locations.

The government of Ghana has launched a far-reaching program of trade and investment promotion designed to make Ghana a gateway into the Western African sub-region. Ghana's railway sector is expected to play an important role in this initiative.

Bae Seong-yil has raised a business model for the project to balance costs and profits through related projects, such as the development of the railway stations, freight terminals, and residential areas.

The feasibility study will be completed about six weeks after the delegation returns to Korea.