Business News of Friday, 23 January 2015
Ghana has discovered large quantities of gas deposits that will help solve the irregular supply of power, Vice President Kwesi Amissah-Arthur has revealed.
According to him, a formal announcement will be made in the coming days. The vice president made the disclosure in a discussion with executives of the Dubai Chamber of Commerce and Industry. The delegation was led by its President and CEO, Hamad Buamim.
Speaking with the delegation at the Flagstaff House, Thursday, Amissah-Arthur assured the investor community of high returns in Ghana, despite the economic challenges the country is facing.
Ghana has been unable to meet its current energy needs due to a shortfall in gas supply from the West African Gas Pipeline in Nigeria to power thermal plants across the country.
State power producer Volta River Authority (VRA) is therefore unable to produce enough energy for domestic and industrial consumption, a situation which has led to a protracted load management programme.
About 540 Megawatts of power is being shed. It has plunged Industry into incurring additional cost of production while domestic consumers are also being inconvenienced.