• GIADEC to implement four Integrated Aluminium Industry projects
• This is to revamp the industrial transformation agenda of the country
• This was made known by Michael Ansah CEO of GIADEC
Michael Ansah, CEO of Ghana Integrated Aluminium Development Corporation (GIADEC), has indicated that his outfit is to implement four Integrated Aluminium Industry (IAI) projects which will revamp the industrial transformation agenda of the country.
According to him, the objective of GIADEC is to promote private sector-led growth, with the strategy to partner with the private sector, attract significant investments to develop and maximise the potential of all core and non-core areas in the sector.
Speaking at the launch of GIADEC’s IAI Projects, and Signing Ceremony for Rocksure International in Accra on Tuesday, September 14, Ansah noted that, “GIADEC launched a 3-Round investor engagement process from March 2019, to select strategic partners. The competitive and transparent process, which was advertised broadly, was rigorous and thorough. It attracted interest from 39 companies from Ghana and across the world. We held Investor Engagement Meetings in Accra, and conducted Round 1 (capacity), Round 2, Round 3.
“The process has culminated in the selection of strategic investors, and we shall shortly witness the ceremony to unveil our first partner – a fully-owned Ghanaian company, that has demonstrated the capability to succeed in this sector! This is a major step towards building capacity in Ghana, and backing local champions that can compete with the best across the world!”
He indicated that, GIADEC’s journey to date, has involved pivoting our development agenda first, around our mining communities.
“We have invested in qualifying historical data, to verify and understand the quality and quantity of our bauxite resources. We have driven an integrated approach to develop a master-plan, and established working groups, focused on 4 areas critical to success,” Michael Ansah said.
He observed, GIADEC’s transport working group is collaborating with stakeholders on the development of vital infrastructure, including the railways and port facilities, to aid efficient transportation of bauxite and bulk materials.
“Our power working group, have engaged with providers to ensure the adequacy of consistent, and competitively priced captive power. We have established an environment working group to sharpen our adherence to world-class environmental standards.
“Biodiversity and Hydrology studies, shall inform utilisation of responsible mining methods, leverage technology, and implement best practice,” he stressed.
About the IAI Projects
Michael Ansah said, GIADEC’s two-pronged implementation strategy involves, investing to revamp and expand the existing businesses – the Mine at Awaso, and the Smelter at Tema – to ensure these are aligned with our development agenda; and secondly, attracting investments to develop new mines at Kyebi, and Nyinahin, and to build refineries, to ensure that Bauxite mined in Ghana, is refined in Ghana, to produce Alumina, for use in our Smelter, to produce Aluminium, for our local market, and for export.
The four projects are namely; Project 1, The expansion of the Awaso mine, and establishment of a refinery, Project 2 – Development of a mine at Nyinahin/Mpassaso, and the development of a refinery solution, Project 3 – Development of mines at Kyebi and Nyinahin, and delivery of a refinery and Project 4 – The modernisation and expansion of our Valco plant at Tema.