Business News of 2014-04-15

Group to invest $ 500 million in power project

CKG Group Limited, a multinational company, says it would invest 500 million dollars in a power plant project to generate electricity to meet the needs of industries.

Mr Charles Kader Goore, the Chairman CKG Group, said the plan, which had been on the drawing board for the last three years because of delays in raising the necessary financing, would come to fruition.

We have made headway in our effort to get the funding and almost ready to go, he said, adding that an announcement for start of work would be made in due course after discussions with main stakeholders were completed.

Mr Goore was speaking to the media during a cocktail organised for visiting Polish business delegation who were in Ghana to explore business opportunities.

He said Ghana was a good destination for investment because of the economic and political stability that the country has enjoyed over the years.

Mr Goore said CKG Group was ready to partner Polish businesses not as a representative but as an investor, leveraging on the knowledge of the African market.

I am confident in Ghana as a good destination and we are ready to invest with you and together enjoy the benefits, he said, adding that Africa had the capacity to grow.

Nana Richmond Aggrey, CKG Company Advisor, said Ghana had been free of political instability and violence that had plagued some African countries and and was ready for investment.

CKG Group, founded some 21 years ago, comprises subsidiaries in manufacturing, shipping and agriculture and aims to be among the top three best companies in Africa.