Ghana to get 52% share in $1.3b India fertilizer project

A $1.3 billion fertilizer project would soon be established at Nyankrom, a village in the Shama District of the Western region.

The Ghana-Indian Joint Venture, which is expected to boost agriculture and help increase crop production in Ghana, is to be located on a serene grassy 400 acre land at the beach of Nyankrom and work is expected to start in one and half months.

Madam Emelia Arthur, Deputy Western Regional Minister, said the Indian investors would have a 48 percent share while Ghana government has a share of 52 percent, out of which the landowners and some NGOs are partners.

She said this on Thursday at Nyankrom when the investors held a meeting with the chiefs and people to interact on the progress of the project.

Madam Arthur said the establishment of the project marks another milestone to strengthen the existing cordial relations between Ghana and India adding that plans are advanced for Ghana to form a “Fertilizer Company Ghana Limited” which would manage the project.

Mr Ajay Bhattacharya, Secretary in charge of the Department of Fertilizers of the Ministry of Chemical/Fertilizers, India, said his colleague Indian investors are committed to seeing the project take off which would not only promote farming but also create jobs for the local people.

He expressed gratitude to the chiefs and people of Nyankrom for releasing the land three years ago to the Ghana-Indian Joint Venture Fertilizer Plant.

Nana Akosoa Gyamfiaba ll, Queen mother of Nyankrom, appealed to the communities to cooperate and extend the our usual hospitality to the investors to help ensure the successful completion of the project.

Nyankrom cultivates woodlots, citrus, cassava and others in addition to farming.

Source: GNA