Chinese energy investors to storm Ghana

Following Togbe Afede XIV, the Agbogbomefia’s second visit to China in July/August this year, a delegation from China will arrive in the country to explore the possibility of investing in the power sector of Ghana.

First to arrive on Sunday, November 12, 2006 will be Mr. Chu Shuntang, Director of China-African Business Council (CABC), a UNDP/Chinese Government sponsored organisation whose objective is to enhance business between China and Africa.

On Monday November 13, 2006, a seven-member delegation from Shenzhen Energy Group Co. Ltd (SEC), led by the Chairman, Mr. Gao Zimin, will arrive. They will be in the country until Friday November 17, 2006.

SEC’s principal activities are electric power generation and investing in energy production related and energy related environment protection businesses. SEC has total installed electricity generation capacity of 6,000MW and it is one of the biggest gas-turbine independent power producers in China.

In 2005, the sales revenue of SEC was RMB9.4 billion (about US$1.34 billion). At the end of 2005, its total assets were worth RMB22.8 billion (about US$3.26 billion) and net assets were RMB14.6 billion (about US$2.09 billion).

The delegation will hold meetings with heads of relevant ministries, departments and agencies.