Business News of 2014-05-27

Aboadze thermal plant to be completed in October

The first power supply from the Aboadze Thermal Power Plant is scheduled for October 27, 2014, Mr. Ron Barnatt, Plant Manager at the Takoradi International Company, contractors of the project, has said.

He said the plant was expected to add 330 megawatts of power to the national electricity grid.

Mr. Barnatt told journalists that expansion works on the 400 million- dollar project was steadily progressing.

The 10 journalists were on a study tour of the thermal plant to round-off a one-week intensive training workshop on mining, oil and gas; organised by Penplusbytes, an International ICT Journalism, with support from Star-Ghana.

Mr. Barnatt said all construction works, as well as electrical and mechanical installations were almost complete.

Installation of two turbine engines at the power house to enhance efficiency have been completed while sea works is on course, Mr. Barnatt said, and expressed appreciation at the prompt support of the Energy and Finance Ministries towards the project.

Mr. Ernest Kofi Osafo, Chief Financial Officer of the Takoradi International Company, explained that according to the contractual agreement, Ghana had 10 percent share of the facility while the remaining 90 percent goes to the construction firm.

He said on completion, the Volta River Authority (VRA) would manage the project after 25 years the nation would take-over the 100 percent shares.