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🇬🇭 Ghana /Economy & Trade

GIADEC, Italian firm sign €300m deal for aluminium processing plant

From Ghanaian Times · () English

Summarized and contextualized by DistantNews.

At a glance

News Named sources New plan
  • Ghana's Integrated Aluminium Development Corporation (GIADEC) signed a €300 million deal with Italy's Danieli & C. Officine Meccaniche S.P.A.
  • The agreement aims to establish an aluminium foil rolling plant and a Centre of Excellence in Tema.
  • The project is expected to boost Ghana's aluminum industry, create jobs, and enhance industrialization.

Ghana is set to significantly enhance its aluminum industry with a new €300 million agreement between the Ghana Integrated Aluminium Development Corporation (GIADEC) and Italian firm Danieli & C. Officine Meccaniche S.P.A. The Memorandum of Understanding (MoU) will establish an aluminium foil rolling plant and a Centre of Excellence in the Tema Heavy Industrial Zone.

This investment presented an opportunity for Ghana to move beyond the export of raw minerals by expanding local manufacturing and increasing value addition.

— Danilo DreoliniRepresentative of the Danieli Group on the significance of the project.

This strategic partnership, signed at the Italian Ambassador's residence, is designed to deepen value addition in Ghana's aluminum sector. The proposed foil plant is projected to have an annual production capacity of 40,000 to 45,000 tonnes, serving crucial sectors like packaging, pharmaceuticals, and food service. The Centre of Excellence will focus on specialized training, research, innovation, and technology transfer in advanced aluminum processing.

The agreement is a reflection of the growing economic and industrial cooperation between Ghana and Italy.

— Laura RanalliItalian Ambassador to Ghana on the bilateral implications of the deal.

Mr. Danilo Dreolini of the Danieli Group highlighted the investment as a key opportunity for Ghana to move beyond raw mineral exports by expanding local manufacturing. He reaffirmed the company's commitment to developing a competitive aluminum industry in Ghana. The Italian Ambassador to Ghana, Ms. Laura Ranalli, underscored the agreement as a testament to growing economic and industrial cooperation between Italy and Ghana.

This agreement marked another milestone in efforts to build an integrated aluminium value chain capable of supporting sustainable industrial growth.

— Reindorf Twumasi AnkrahCEO of GIADEC on the importance of the MoU for Ghana's industrial development.

GIADEC CEO, Mr. Reindorf Twumasi Ankrah, described the MoU as a milestone in building an integrated aluminum value chain. He emphasized GIADEC's dedication to partnering with credible international entities to transform Ghana into a major aluminum manufacturing hub in West Africa. The Integrated Industrial Park's location offers strategic advantages due to its proximity to VALCO, the Tema Port, and other vital infrastructure, making it ideal for export-oriented manufacturing. The project is anticipated to generate substantial direct and indirect employment, bolster local industrial capacity, and stimulate growth in related industries.

The corporation remained committed to working with credible international partners to transform Ghana into a major aluminium manufacturing hub in West Africa.

— Reindorf Twumasi AnkrahGIADEC CEO on the long-term vision for Ghana's aluminum sector.
DistantNews Editorial

Originally published by Ghanaian Times. Summarized and contextualized by our editorial team with added local perspective. Read our editorial standards.

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