Akufo-Addo Announces Major Projects To Boost Economy

 …Bauxite Refinery, Ada Salt Project Mentioned

President Akufo-Addo, has announced two important projects his administration is embarking on, together with the private sector, which he believes will go a long way to bring massive economic growth to the country.

Speaking at the 67th Independence Day anniversary celebrated in Koforidua in the Eastern region, yesterday, the President, named the two projects; a bauxite refinery agreement his government has reached with a private company and the Ada Songhor Salt Project in the Greater Accra region.

He said, the bauxite project in particular, is aimed at ensuring that the county’s bauxite is refined in Ghana to feed the local industries, such as the Volta Aluminum Company Limited (VALCO) based in Tema.

Contracts signed

He indicated that, his administration has successfully selected strategic partners that have been tasked to work with the Ghana Integrated Aluminum Development Corporation (GIADEC) for that purpose.

The initiative, is aimed at building a new alumina refinery, and develop mines at Nyinahini-Mpasaaso as three of four projects being executed under the Integrated Aluminum Industry (IAI) projects.

“I have witnessed the signing of the two separate agreements in Accra recently, firstly, between GIADEC, a wholly-owned public entity, and Rocksure International, a wholly-owned private Ghanaian company, selected, after a rigorous process, as strategic partner to develop a mine at Nyinahini-Mpassaso; and Mytilineos SA, a leading global industrial and enemy company, which entails the development of a second mine at Nyinahin-Mpassaso, and the establishment of a refinery”, he said.

No raw bauxite exports

In addition, President Akufo-Addo in excitement said that, “We are finally coming to the end of the decades of exporting raw bauxite from the country. We shall now refine bauxite, mined in Ghana, to produce alumina that will feed the VALCO smelter and the downstream aluminum industry, which is going to have a dramatic impact on Ghanaian industrialization, when we produce parts for motor vehicles, aircrafts, roofing sheets and home utensils”.

According to the President, even though it has taken a very long time to arrive at this stage, “but we have taken the trouble to make sure that we get it right”.

On the same bauxite conversation, President Akufo-Addo, said he was looking forward to see another project in the Atiwa Forest Range in Kyebi, where he comes from after a litigation case brought against its development is concluded.

“As an indigene, it is my hope that, once litigation over the Atiwa Forest Range, in Kyebi, is settled, we will be able to develop also the Kyebi bauxite mine and refinery, that will help deliver employment and high paying jobs for our people, and also ensure integration and value addition across the bauxite/aluminum value chain”.

Ada Songhor Salt

On the Ada Songhor Salt project being spearheaded by Electrochem Salt Mine Limited, one of the businesses of businessman and entrepreneur, Daniel McKorley alias McDan, the project is expected to make a dramatic change to the economy.

President Akufo-Addo, said after series of disputes against the project, the way has now been cleared for the exploitation of salt at the site in Ada and it is expected that, salt will be mined in large commercial space for both local and export.

“With its initial ability to produce some six hundred and fifty thousand metric tonnes (650, 000MT) of salt per annum, and expanding its productive capacity to one million metric tones this year, and to two million metric tonnes by 2027, at ninety-nine-point-nine-nine (99.99%) purity, the Electrochem Salt Mine will be the biggest salt producing facility in Africa.

These are figures that should spell a significant change in the economy, and cheer us up”.

He was convinced that, the two major projects together with other initiatives by the government, would turn the economic fortunes of the country around.

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