Business News of Saturday, 16 December 2017
Ghana and Germany have signed two major Memoranda of Understanding (MoUs) in the health and energy sectors.
The first is for the development and building of a combined cycle power plant with a capacity of 600 megawatts at the Aboadze power enclave, located in the Western Region.
It forms part of agreements signed between the two countries on the visit of the German President, Frank-Walter Steinmeier to Ghana.
The MoU was signed between Siemens (Germany), represented by its Chief Executive Officer (CEO) for Sub-Saharan Africa, Sabine Dall’Omo and Kofi Monah, who represented Rotan Power (Ghana) in the presence of Vice President Dr Mahamudu Bawumia and the German Minister for Economics and Energy, Brigitte Zypries, at the Flagstaff House.
“When it is done, it is going to be the lowest price electricity that we would have on our grid; and this tells you about the quality and efficiency that they are bringing to bear and will ensure sustainable energy supply in Ghana. That will have a major impact on the economy,” Dr Bawumia observed during a briefing.
Ms Brigitte Zypries expressed the readiness of German businesses to partner local businesses for opportunities in Ghana, and was glad about establishing contacts with local businesses.
The second MoU was signed between Merck, represented by the company’s Head of Africa Strategic Relations, Fritz Sacher (Germany) and Ridge Management Solutions, led by Andrew Clocanas, Chairman of the company, on a major vaccine manufacturing plant in Ghana, also the first in Sub-Saharan Africa.
Merck and RMS intend to build a factory for human vaccine in Ghana.
With this factory, Ghana would be able to produce its own vaccine as well as the development of vaccines.
A feasibility study is supposed to be done in the beginning of 2018.
After the positive outcome, a contract is expected to be signed over the realization of the project within the next five years and a volume of €25 million.