South Korea building homes in Ghana…. why?

Is this the best way to spend $10 billion in Ghana? Can’t wait to hear more about this.

Thanks to Kevin Arritt and McKinley Tennant for letting me know about this story.

STX Strikes $10 Billion Housing Deal in Ghana

Kang Duk-soo, second from left, STX Group chairman, shakes hands with Robert Abongo, Ghanaian minister of water resources, works and housing, after STX won a $10 billion order from the African government to build 200,000 homes there by 2015. The signing ceremony was held at STX’s headquarters in Seoul, Wednesday. / Courtesy of STX Group

By Kim Yoo-chul

Staff Reporter

STX Group has won a $10 billion order from the Ghanaian government to build 200,000 homes in the African country over the next six years.

The massive project involves construction of homes in major cities in Ghana, including its capital Accra from 2010 to 2015, a spokesman of the mid-sized conglomerate that focuses on the shipbuilding, shipping and construction businesses said.

The official said the two sides also signed a deal to launch a joint venture for the project at a ceremony attended by the group Chairman Kang Duk-Soo and Albert Abongo, Ghana’s housing minister