GIADEC, Italian firm sign €300m deal for aluminium processing plant
The Ghana Integrated Aluminium Development Corporation (GIADEC) has signed a €300 million Memorandum of Understanding (MoU) with Italian engineering and manufacturing company, Danieli & C. Officine Meccaniche S.P.A., for the establishment of an aluminium foil rolling plant and a Centre of Excellence in the Tema Heavy Industrial Zone.
The agreement, signed at the residence of the Italian Ambassador to Ghana on Tuesday, is expected to deepen value addition in Ghana’s aluminium industry, create jobs and strengthen the country’s industrialisation agenda.
The proposed aluminium foil rolling plant, to be located within the Integrated Industrial Park at Tema, will have an estimated annual production capacity of between 40,000 and 45,000 tonnes of aluminium foil products to serve the packaging, pharmaceutical, food service and industrial sectors.
The project also includes the establishment of a Centre of Excellence to provide specialised training, support research and innovation, and promote technology transfer in advanced aluminium processing.
Speaking at the signing ceremony, a representative of the Danieli Group, Mr Danilo Dreolini, said the investment presented an opportunity for Ghana to move beyond the export of raw minerals by expanding local manufacturing and increasing value addition.
He reaffirmed the company’s commitment to partnering Ghana to develop a competitive aluminium industry.
The Italian Ambassador to Ghana, Ms Laura Ranalli, described the agreement as a reflection of the growing economic and industrial cooperation between Ghana and Italy.
She said the Italian Embassy would continue to support initiatives aimed at strengthening investment and industrial development between the two countries.
The Chief Executive Officer of GIADEC, Mr Reindorf Twumasi Ankrah, said the agreement marked another milestone in efforts to build an integrated aluminium value chain capable of supporting sustainable industrial growth.
He said the corporation remained committed to working with credible international partners to transform Ghana into a major aluminium manufacturing hub in West Africa.
According to him, the Integrated Industrial Park offers significant strategic advantages because of its proximity to the Volta Aluminium Company (VALCO), the Tema Port and other industrial infrastructure, making it well suited for export-oriented manufacturing.
Mr Ankrah said the project was expected to generate direct and indirect employment, strengthen local industrial capacity and stimulate the growth of allied industries within the aluminium value chain.
He noted that the Centre of Excellence would equip Ghanaians with specialised technical skills required in modern aluminium processing while facilitating knowledge and technology transfer.
He said the project would also contribute to increased export earnings by enabling the production of high-value aluminium products for international markets, while supporting government’s broader agenda of industrial transformation.
The signing ceremony was attended by officials of GIADEC, the Danieli Group, the Italian Embassy in Ghana and the Ministry of Lands and Natural Resources.
BY CLIFF EKUFUL
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