President Nana Addo Dankwa Akufo-Addo yesterday launched the integrated aluminum industry projects in Accra for the development and utilisation of the country’s large bauxite deposit
Made up of four different phases, the projects form part of a strategic plan to development the country’s aluminum industry.
The first phase of the project also known as project one involves the expansion of the existing mine at Awaso in the Western North Region and the establishment of a refinery, while projects two and three sees to the establishment of a new mine and refinery at Nyinahin-Mpasaaso and Kyebi respectively.
The fourth phase involves retrofitting of the Volta Aluminum Company smelter at Tema in the Greater Accra Region
In all, it is estimated that the projects would require an amount of US$6billion to execute and would largely be driven by private investors in partnership with the Ghana Integrated Aluminum Development Corporation (GIADEC).
Performing launch, President Akufo-Addo was optimistic that the projects would help exploit the country’s bauxite industry to the benefits of Ghanaians in an environmentally friendly manner.
He said the projects would have an impact on the economy, and create jobs and wealth for stakeholders in the industry.
President Akufo-Addo expressed the government’s commitment to create a globally competitive aluminum industry which would be beneficial to Ghanaians and investment partners.
While inviting investments to the sector, the President stressed the need for the stakeholders to ensure that the projects were implemented in an environmentally sustainable manner
The Minister of Lands and Natural Resources, Abu Jinapor, enumerated the benefits of a vibrant aluminum industry to the growth of the manufacturing sector of the country, especially the automobile industry.
He said the process of selecting a partner for the second phase of the project was competitive and pledged to ensure the protection of the environment and biodiversity while implementing the projects
BY CLIFF EKUFUL AND YAW KYEI