Electrochem Ghana’s outgrower scheme is projected to become a significant economic powerhouse, generating $200 million annually.
The CEO of Electrochem Ghana, Abdul Razak Adam, detailed the ambitious project during a phone interview with the Ghana News Agency (GNA).
Launched on August 26, the scheme offers local miners in Ada and surrounding areas the opportunity to mine salt on 2,000 acres of allocated land, with a guaranteed purchase of their production by Electrochem.
The project has the potential to yield 500,000 metric tonnes of salt every six months, translating into $100 million biannually. At $200 per metric tonne, this large-scale production is set to make Ada a crucial player in Ghana’s salt industry.
Mr. Adam pointed out that with the efficient production from the scheme, Ada alone could meet Ghana’s yearly salt consumption needs, estimated at 600,000 metric tonnes. The financial prospects of the project are immense, as local miners will now have a structured and profitable platform.
Mr. Adam emphasized that this should not be viewed as merely a peace offering to resolve the long-standing dispute between Electrochem and the community but as a “major economic activity” that could transform the fortunes of Ada’s residents.
Nene Dameh Sewu III, Chief of Togbloku Okor, and Secretary of the Ada Community Chiefs Association, further expressed their support, noting that the scheme would bring immense economic benefits to indigenes.
Lord Freeman Aleley, Secretary of the Terkperbiawe Youth Association, also urged the youth to engage in this lucrative venture, as salt mining has now become a valuable and profitable industry thanks to Electrochem’s involvement.
Source:q New Ghana
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