The facility is estimated to cost three million dollars, and the amount would be disbursed to the UG over a ten-year period.

Mr Takuya Kajiura, Managing Director of Toyota Ghana Limited, who initialled for his company said, the project was basically meant to strengthen the existing ties between Ghana and Japan.

He said as a company, Toyota Ghana had immensely benefited from human resource capital, which was developed by Ghana's educational system, including the University of Ghana.

"We consider this investment as an opportunity for the development of human resource in the country, as well as business growth," he said.

Mr Kajiura said the agreement proved that the academia and industry could collaborate and promote socio-economic progress, through the enrichment of human capital.

Professor Daniel Kwadwo Asiedu, Provost, College of Basic and Applied Sciences, UG, described the occasion as "one of a kind", adding, "we look forward to its successful implementation".

He continued, "it is our hope that this agreement will open doors for more and similar achievements."

Prof. Ebenezer Oduro Owusu, Vice Chancellor of the University of Ghana, initialled for the University and said, the agreement was part of efforts to bridge the gap between the academia and industry.

He said the immense benefits of the agreement to both industry and students, as well as the over all growth of the nation, made it important for the tenets of the agreement to be strongly adhered to.

The guest of honour for the occasion was Tsutomu Himeno, Japanese Ambassador to Ghana.