Ghana buys land near Cote d'Ivoire border for gas-processing plant

The Ghanaian government has purchased a 27.2km sq plot of land near the border with Cote d'Ivoire to build a US$1.2 billion (GH¢1.76 billion) gas-processing plant, part of the Bonyere gas project.

Deputy Information Minister Samuel Okudzeto Ablakwa has been reported as saying the land was acquired after the government resolved a dispute with the residents of Bonyere, Western Nzema, where the plant will be constructed.

Under the government's gas industrialisation project, a 150km gas pipeline will be laid from Bonyere to the Anoadze Thermal plant in order to increase the country's capacity to generate more energy, and ensure a stable electricity supply.

There are also plans to establish a multi-million dollar fertiliser processing plant in the Western Region, which, once completed, would be able to process 300 million cubic feet of gas daily from the Jubilee field.

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Ghana plans major infrastructure spending in 2011

The Ghanaian finance ministry has published a summary report on Ghana's 2011 budget, due to be unveiled on Thursday 18th November. The report indicates major infrastructure spending aimed at economic growth and employment.

"There will be significant investments in the areas of agriculture, energy, housing, rail transport, roads and highways," said the report, which gave no indication of the planned spending or its estimated impact on the country's economy.

The report also said that even though Ghana's economy will benefit from its fledgling oil and gas industry the impact in terms of revenue will only contribute “small portions" to the 2011 fiscal year. It estimated about six per cent of total revenue saying, “Ghanaians must therefore continue to focus their attention on the non-oil sectors of the economy which hitherto have been the backbone of the economy."

The report added that most of the spending will focus on the farming sector; completion of several roadwork projects; the rebuilding of the rail network; and the construction of 200,000 new affordable housing units.

Source: Reuters

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