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Business News of Friday, 13 July 2012

Source: GNA

Fertilizer project in Western Region to take off soon

Agriculture in Ghana will get a further boost with the establishment of a fertilizer plant at Nyankrom in the Shama District.

The Ghana/Indian Joint Venture Project estimated at $1.3 billion is expected to start in September.

Madam Emelia Arthur, the Deputy Western Regional Minister said the Indian investors would have 48% share and the Ghana government will have 52%.

She said this on Thursday at Nyankrom when the investors held a meeting with the chiefs and people during which they gave the assurance of starting the project as planned.

Madam Arthur said there were plans to for Ghana to form “Fertilizer Company Ghana Limited” to manage the plant and gave the assurance that documentation processes were almost completed for the project to take off.

Mr. Ajay Bhattacharya, Secretary in charge of the Department of Fertilizers of the Ministry of Chemical/Fertilizers, India, said Indian investors were committed to see the project take off.

He expressed gratitude to the chiefs and people of Nyankrom for releasing the land three years ago to the Ghana-Indian Joint Venture Fertilizer Plant.

Nana Akosoa Gyamfiaba II, Queen mother of Nyankrom, appealed to the communities to cooperate when the project takes off.**

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