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Jun 14, 2012 at 9:43am
Government Secures $1.0 billion loan facility from China for the Gas Infrastructure Project
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The Government of Ghana has secured a $1.0 billion loan facility from the Chinese Development Bank for the Gas Infrastructure Project (GIP), scheduled to take off next year.

The project when completed, would process gas, from the Jubilee Field and other fields when the product come on stream, to power thermal plants, which constitute about 40 per cent of the current energy mix.

Dr. Joe Oteng-Adjei, Minister for Energy announced this in Accra yesterday at the Meet-The-Press Series.

“The government as a matter of urgency is encouraging Independent Power Producers (IPPs) to invest in additional generation. The concerns usually raised by IPPs… which include uncertainty in gas availability, pricing, off-taker and financial credibility are being tackled seriously,” he added.

Dr. Oteng-Adjei said the project included other measures being undertaken by government to normalise the current situation in the power sector, which in the last few months had seen major operational challenges and unexpected events that had resulted in reduced power supply in some parts of the country.

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