(TelegraphIndia) – Bilateral trade between India and Ghana is expected to touch $1 billion by 2013. Trade between the two countries increased 52 per cent to $818 million in 2010-11 from $538 million in 2009-10. Indian exports to Ghana are valued at $658 million against imports of $160 million.

The Ghana government is aiming to increase the country’s energy capacity to about 5,000 mega watt (MW) by 2015 from 2,000MW at present. It is looking for investments and partnerships for the 3,000MW shortfall.

“There are tremendous opportunities for Indian firms and investors within the electrical and engineering sectors, in the manufacture of consumer appliances and heavy industrial equipment for production and transmission and distribution. Our government is looking for investments in the upstream and downstream sectors of the oil sector,” Robert Tachie-Menson, high commissioner of Ghana, said.

“There is a need for massive investment in the public sector projects such as energy transmission and distribution network, expansion of water treatment plants, new sewage systems, construction of deep sea ports and modernising existing dry docks. Rehabilitation of the railway network and its extension to the northern part of the country is also needed,” he said.

Meanwhile, the two countries signed an MoU in 2010 to set up a $1.3-billion joint venture fertiliser processing unit in Ghana.

Source: TelegraphIndia