Business News of Friday, 12 March 2004
Source: GHANAIAN TIMES
The Chinese government has agreed to give Ghana financial support to purchase the Volta Aluminum Company (VALCO). It says a high-powered Chinese trade team is already in the country to hold discussions with the government and work out the details.
The delegation led by the Chinese Deputy Minister of Commerce, Wei Jianguo, includes eight entrepreneurs, 10 public officials and the general Manager of China?s biggest aluminum company.
At a ceremony in Accra yesterday, the two countries signed $3.75, million interest-free agreements for the purchase.
Mr. Jianguo said VALCO was a big investment and therefore his government needed a lot of information and documentation on the matter.
Finance and Economic Planning Minister, Mr. Yaw Osafo Maafo, on his part urged the Chinese government to invest in Ghana?s roads and railways as well as in the telecommunication sector to make Ghana Telecom the best in W/Africa.