The Ghana Integrated Aluminium Development Corporation (GIADEC) and Tema Development Corporation (TDC) Ghana Limited, in partnership with ARISE Integrated Industrial Platforms, have incorporated a special purpose company to advance plans for a major industrial park in Tema, the parties announced on Thursday.
The new entity, Tema Integrated Industrial Parks Company Limited (TIIPco), was incorporated in April and will oversee the development and management of the proposed industrial enclave, which is expected to occupy between 100 and 120 hectares within the Tema Heavy Industrial Area.
The project forms part of President John Dramani Mahama’s broader industrialisation agenda aimed at expanding local manufacturing capacity, creating jobs and promoting value addition to raw materials.
Following the incorporation of TIIPco, TDC granted the company access to land located adjacent to the Volta Aluminium Company (VALCO) smelter, with preliminary site preparation works already underway ahead of full-scale construction.
The latest development follows the signing of a Memorandum of Understanding (MoU) and shareholders’ agreement among the parties earlier this year.
The authorities say the integrated industrial park is expected to support downstream processing industries and attract private investment into manufacturing and export-oriented production.
ARISE IIP, which operates industrial platforms across several African countries, is expected to provide technical and operational expertise for the project, including infrastructure development and industrial ecosystem management.
A sod-cutting ceremony for the project’s official rollout is expected to be held in the coming weeks and will be led by President Mahama, the statement said.
The post GIADEC, TDC and ARISE form company for Tema industrial park project appeared first on The Business & Financial Times.
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