Indian companies invest $277m in six Ghana projects

Indian businesses operating in Ghana have altogether invested $277 million in the country, the Calcutta News has reported citing vice president John Mahama, without naming the specific companies and the projects they are investing in.

The Vice President is currently attending the India-Africa Project Partnership Summit in India.

He also told the media in India that an Indian company is setting up a fertilizer producing plant in Ghana to serve the market in the country and for export to India.

The Indian Farmers Fertilizer Cooperative (Iffco) is a multi-state non-profit organization, he said will produce enough to meet Ghana’s fertilizer requirements and export the surplus.

According to the report, Ghana is also wooing Indian investors to fund development of its oil and gas finds and is in discussions with both upstream and downstream companies for projects not just to harness the hydrocarbon assets but also to set up refineries and other industries.

By Emmanuel K. Dogbevi