The suspects aged between 25 and 30, are Kwame Sammy, Akwasi Ofori, Abduali Issaka, Kwabena Tawiah, and David Kofi Adofo.
The Ghanaian Times gathered that suspects concealed the railway tracks under plastic material and sacks in a truck of a company at Tema.
Other suspects were being sought by the police to assist in investigations in connection with the theft.
The Ghanaian Times gathered that the police received information about the stealing of the railway tracks at Daanyansah and Kwasiho township and mounted surveillance.
Last Saturday, a police source that pleaded condition of anonymity, told the Ghanaian Times that the police arrested the suspects when they were conveying the tracks on a JAC truck with registration number GX3179-12 to Tema to sell.
The source further told the Ghanaian Times that the truck and the railway tracks have been impounded by the police.
The suspects, the source said, have been handed over to the Special Investigations Unit of the Criminal and Investigation Department (CID) for further investigations.
It said caution statements have been taken from the suspects.
There had been recent reports of the stealing of 50 kilometres of railway tracks, nationwide, causing an estimated $250 million of damage to the country.
The track was stolen from railway lines from Ejisu, Konongo, Juaso, Obuasi-Dunkwa-Prestea, Akrokeri, Kaasi, Asafo, and Asawase.
At least, 10 suspects, so far, have appeared in the courts at Ejisu and Juaso following in connection with the theft.
Of the 10, four have been jailed four years each.
The thieves, it was revealed cut the rail, about 40 feet, into pieces with specialized machines and cart them during the night, to sell to scrap dealers.