Jeffrey R. Immelt, the Global Chairman and Chief Executive Officer (CEO) of American multinational conglomerate, General Electric (GE), has landed in Ghana.
Immelt is in Ghana to finalise arrangements for the construction of a 1000 Megawatts gas-powered power plant in the country.
The first phase of the project is expected to add about 300 megawatts of electricity to the national grid by the third quarter of 2016, while the second phase will add about 700 megawatts by 2018.
The $1billion project, to be located in the Western Region, will include a Floating Storage and Regasification Unit to facilitate importation of Liquefied Natural Gas (LNG) for power generation.
This is expected to cut out the current lack of fuel challenge in Ghana for power generation and make it possible for power to be generated at a cost cheaper than when crude oil is used.
Mr Immelt will also announce at $3.5 million facility to develop the capacity of people working in the oil and gas sectors as well as a scholarship facility for students.
Credit: Graphic