Ghana signs MoU with Chinese firm to develop Volta Economic Corridor

The 24H+ Economy Secretariat under the Office of the President has signed a Memorandum of Understanding (MoU) with the Hunan Architectural Design Institute Group (HADI Group) of the People’s Republic of China to support the planning and development of the Volta Economic Corridor (VEC).

The agreement focuses on state-of-the-art industrial planning and infrastructure investment for the corridor, which forms a central pillar of Ghana’s 24-Hour Economy Programme.

The signing ceremony, held in Accra, marks what officials describe as a major step toward translating Ghana’s economic agenda into investment-ready infrastructure.

Chairman of the HADI Group delegation, He Liu, said the partnership reflects growing trust between the two sides.

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“We are ready to partner for the development of Ghana. Seeing the vision reflected here gives us confidence that this collaboration is built on a strong and practical foundation,” he said.

Presidential Adviser on the 24-Hour Economy and Accelerated Export Development, Augustus Goosie Tanoh, said the agreement builds on earlier discussions held in China.

“When we sat together in Changsha, we agreed that this relationship must be practical. Three months later, here we are,” he said.

He drew parallels between Hunan’s development experience and Ghana’s ambitions, stressing the importance of planning in economic transformation.

“The institution helped plan the infrastructure that built modern Hunan. We are asking them to bring that same capability to Ghana. The work starts now,” he said.

The Volta Economic Corridor is the centrepiece of Ghana’s 24-Hour Economy Programme, aimed at restructuring how the country produces, processes, and trades.

Stretching from the Port of Tema through Akosombo, Afram Plains, Yeji, Buipe, and Yapei to Tamale, the corridor is designed as Ghana’s first net-zero green economic corridor.

It will integrate over two million hectares of arable land into agroecological parks, link them to industrial parks, and connect both through multimodal transport infrastructure, supported by private investment.

Renewable energy installations along the corridor are expected to reduce power costs to below seven cents per kilowatt hour, making manufacturing more competitive. The African Development Bank has also committed funding for feasibility studies on the transport component. The project is projected to create more than 500,000 direct jobs.

Scope of the MoU

Under the agreement, HADI Group will work with the 24H+ Economy Secretariat on master planning and spatial design for key zones along the corridor.

Areas of collaboration include the layout and infrastructure design of agroecological and industrial parks, including roads, water systems, pipelines, and sewage treatment facilities.

The partnership will also explore financing structures under EPC+F and EPC+I models to attract private investment, as well as technical training and knowledge exchange between Ghanaian planners and HADI engineers.

Both parties have agreed to begin with pilot projects covering two industrial parks and three agroecological parks, where conceptual design work will start immediately before scaling across the full corridor.