Mpaproase (E/R), Sept. 20, GNA - Ghana will become an industry leader in underwater timber operations, following government's agreement with a Canadian firm to invest 100 million dollars in the sector. The investor, Clark Sustainable Resources Development Limited (CSRD), has already expended more than 10 million dollars in preparation for commercial production, which is expected to begin in December this year on the Afram arm of the Volta Lake.

Harvesting of the submerged tress will also facilitate safer transport on the Volta Lake, Mr Michael Browse, Country Manager of CSRD said on Friday.

He was speaking at a public hearing organised by the Environmental Protection Agency and the CSRD to explain the project to traditional leaders and people of Mpaproase, near Gyakiti in the Asuogyaman District.

Parliament ratified the agreement in 2006, which has given CSRD the right to a concession of 350,000 hectares out of the 850,000 of the Lake's total area.

Government, however, has a 20 percent interest in the net value of the concession to be harvested by CSRD.

Mr Browse explained that CSRD would solely finance the project, which would create over 400 jobs out of which 75 percent employees would be recruited locally.

He said the company would also establish a sawmill plant at Mpaproase to help develop the infrastructure and technical knowledge of the people. On environmental and social impact assessment of the project, Dr Eamonn Barrett, Impact Study Project Director of the Environmental Resources Management Limited in the United Kingdom, said the project would affect 40 households in the community.

He said the CSRD would resettle about 280 residents at a nearby location in addition to compensating them in accordance with international requirements.

Dr Barrett said CSRD had gathered all the scientific, environmental and any other information on the project that was likely to impact negatively on the community and had put in place measures to mitigate them.

He pointed out that the company had considered the impact of the project on fishing activities and the livelihood of the communities, pledging that it would cooperate effectively with residents. Mr Bilijo Nayan, Strategic Relationships Director of CRSD, said the project would bolster the country's drive to promote eco-tourism which had been impeded by the risk of fatal boat accidents as a result of the large number of submerged stumps in the Lake. Residents expressed satisfaction with the project and called on the company to give priority to the youth in the area in terms of employment. 20 Sept. 08