Ghana’s Minister for Roads and Highways, Mr. Kwasi Amoako-Atta has commended the West African nation’s leading Oil Marketing Company, GOIL, for its strategic decision to become a major player in the bitumen market.
Mr. Amoako Atta who toured the facility in Tema few days ago suggested to GOIL to consider offering reasonable discounts to Ghanaian contractors when the plant begins full operation.
The 35-million dollar project, which is a partnership between GOIL and SMB of Côte d’Ivoire and started two years ago, is about 82 per cent complete.
When completed, the plant will stock raw bitumen, production of Polymer Modified Bitumen (PMB) and Emulsions.
The Plant is also expected to produce the required volumes and other bituminous products sufficient to the needs of Ghana’s road construction sector while reducing drastically the importation of bituminous products into the country.
Ghana imports its Bitumen mainly from Cote D’Ivoire and Brazil.
The Group CEO and Managing Director of GOIL, Mr. Kwame Osei Prempeh, explained that GOIL’S entry into the bitumen market is part of a strategy to widen its portfolio and consolidate gains it has already chalked in the downstream Petroleum sector.
The Technical Consultant to the Group CEO & MD, Mr. Ben Torkornoo explained that GOIL will have a 60 percent stake in the project while SMB, which will provide the raw bitumen materials, will have a 40 per cent share.
The Head of Technical Services of GOIL, Mr. Alphonso Okai Jnr., said the PMB will be important to prevent road deformation and ensure the durability of roads and added that the highly recommended PMB product, which is a processed product of raw bitumen, possesses a resilient and long-lasting feature capable of sustaining and preserving roads for a longer period of time than the regular asphalted roads.
