Business News of 2014-01-16

Ghana Gas project completion date extended

Chief Executive Officer (CEO) of the Volta River Authority (VRA), Ing Kirk Koffi has revealed that the scheduled date to complete the Ghana Gas project has been extended.

Government rescheduled the date from December 2013 to the end of the first quarter of this year. This, according to reports, is as a result of delays in the release of funds from the China Development Bank (CDB) loan and sinking of some essential components of the project on the high seas.

Speaking on Citi fm on Wednesday, Mr. Kirk revealed that Ghana Gas will start by the middle of the year.

According to him, this would help reduce the cost of generation for institutions whose machines use gas as power supply.

He mentioned that they expect 120 million cubic feet a day of gas, which can power all the machines in Takoradi.