Goil Plans to Commence Bitumen Production in September
In an exciting development for Ghana's infrastructure, local energy conglomerate GOIL Company Limited is nearing the completion of a 35-million-dollar bitumen production project. The project, a joint venture with SMB of Cote d'Ivoire, is expected to be fully operational by the end of September this year.
The bitumen plant, currently 82 percent complete, will consist of three facilities: raw bitumen storage, Polymer Modified Bitumen (PMB) production, and Emulsion production. The PMB produced by the plant will play a crucial role in preventing road deformation and ensuring road durability, while the emulsions will aid in the construction and maintenance of roads.
The Minister of Roads and Highways, Kwasi Amoako-Atta, has commended GOIL for its strategic decision to become a major player in the bitumen market. He has also announced that the government will negotiate with foreign contractors to source their bitumen requirements from Ghana, which could significantly reduce the importation of bituminous products into the country, potentially saving over US$11 billion annually.
In a bid to further support Ghanaian contractors, the Minister has suggested that GOIL should consider offering reasonable discounts when the plant begins full operation. This move is expected to boost the local road construction sector and create more jobs for Ghanaians.
The Managing Director and Group CEO of GOIL, Mr. Kwame Osei Prempeh, has stated that the company's entry into the bitumen market is part of a strategy to widen its portfolio and consolidate gains in the industry. He added that GOIL's objective is to be the major supplier of bitumen and producer of the best quality PMB for Ghana.
The PMB product, a processed version of raw bitumen, is known for its resilient and long-lasting features, capable of sustaining and preserving roads for a longer period than regular asphalted roads. The plant is expected to stock 6,000 metric tonnes of raw bitumen and produce 200 metric tonnes per day of PMB and 200 metric tonnes of emulsions daily.
The construction of the bitumen plant is a significant step towards enhancing the availability of bitumen for road construction in Ghana. Bitumen is a critical component in asphalt, which is used for road surfacing. Increased domestic production could reduce reliance on imports and potentially stabilise or lower costs for road construction projects.
This development comes at a time when Ghana's energy sector is undergoing significant developments, including the inauguration of a committee for the construction of the Second Gas Processing Plant (GPP II), which aims to boost domestic energy capacity. This broader context suggests a drive towards enhancing infrastructure and energy-related projects in Ghana.
As the bitumen plant nears completion, Ghanaian road construction projects stand to benefit from increased domestic production, potentially leading to cost savings, job creation, and improved road infrastructure. For detailed information on the completion status and production capacity of GOIL's bitumen production project, further specific updates from the company or relevant industry reports would be necessary.
The Minister of Roads and Highways, Kwasi Amoako-Atta, is planning to negotiate with foreign contractors to source their bitumen requirements from Ghana, in light of GOIL's upcoming bitumen plant, which could potentially save over US$11 billion annually. In a survey analyzing the Ghanaian market, it's predicted that the sports sector could witness a significant increase in annual reports due to the increased interest and investments in Ghana's infrastructure projects.
