Accra, July 6, GNA - Ghana and India on Tuesday signed a Memorandum of Understanding (MoU) to capitalise on the nation's oil find to produce fertiliser to increase food production. Under the MoU the two countries will form partnership to tap gas from the commercial exploration of the oil to facilitate the venture.
Mr Kwesi Ahwoi, Minister of Food and Agriculture and Dr Joe Oteng Adjei, Minister of Energy signed on behalf of Ghana, while Mr Subbaroyan Krishnan, Secretary to Indian Government's Department of Fertilisers under the Ministry of Chemicals and Fertilisers, initialled on behalf of India. Mr Ahwoi observed that Ghana is rated as the least user of fertiliser due to insufficient technical know-how in production. He explained that the country applied a mere eight kilogramme per hectare for crop production as against 120 kilogramme per hectare applied in some countries.
The Minister said increase production and application of fertiliser is critical, if the country is to achieve its 100 million tonnes of cocoa production target and reduce to significant proportion the importation of rice.
Mr Ahwoi said he was hopeful that the project would assist in increasing rice and cocoa production to an all-time new peak, which could rake in the much needed revenue for socio-economic development. Dr Oteng-Adjei, expressed optimism that the business partnership would succeed, pointing to the expected commercial production of gas, stressing that the country is expecting more than five trillion cubit feet of gas. He said Ghana has the business prospects of using gas to create more jobs in the petro-chemical industry and reduce poverty in the country. Dr Oteng-Adjei said Ghana is expected to add 1,700 dollars to the Gross Domestic Product and create additional three million jobs after four years of commercial production of gas and oil.
Mr Krishnan said India had targeted 1.5 million tonnes of urea production per annum to support crop and cocoa production and to export the rest to other countries where demand would be greater.
Madam Ruchi Ghanashyam, Indian High Commissioner expressed the hope that the MoU would assist Ghana and India to move to a newer and higher economic growth and development.
