Russia, Belarus to invest 1 bln USD in Ghana's oil, gas industry

Russia and Belarus have expressed their intention to invest 1 billion U.S. dollars in Ghana's emerging oil and gas industry.

A trade delegation from the two countries, led by Anatoly N. Tkachuk, vice president of the Russian Union of Industrialists and Entrepreneurs committee (ICIE) and Viktor Sheiman, assistant to the president of Belarus Republic on Special Affairs arrived here on Wednesday for a five-day visit.

The delegation paid a courtesy call on Ghana's vice president John Mahama, during which they discussed investment cooperation between Russia, Belarus and Ghana.

Reliable sources at the vice president office informed Xinhua on Thursday that Tkachuk Anatoly told Mahama that Russia and Belarus want to set up a joint venture with the Ghanaian government for the exploration of oil, gas and gold.

The trade delegation also planned to build tractor assembly and fertilizer plants in the West African country and to construct road and bridges to link feeder roads in remote areas in farming communities.

Viktor Sheiman announced that Belarus would soon set up an embassy in Ghana to deepen economic cooperation with the West African country, saying that "we want to be part of Ghana's success story".

John Mahama, the Ghana vice-president, told the delegation that Ghana is all set to work with the two countries and support bilateral talks.

Other areas of interest to the two countries are gold production, agricultural and health sectors of the Ghanaian economy.

The delegation is expected to meet Ghanaian ministers of energy, lands and forestry, agriculture, and trade and industry to explore investment ventures in these key sectors.


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