The Ghana Integrated Aluminium Development Corporation (GIADEC) has secured a major €300 million investment commitment from Italian engineering giant DANIELI & C. OFFICINE MECCANICHE S.P.A. following the signing of a Memorandum of Understanding (MoU) to establish a state-of-the-art aluminium foil manufacturing plant and a Centre of Excellence in Tema.
The agreement, signed at the residence of the Italian Ambassador to Ghana, marks a significant step in Ghana’s drive to deepen industrialisation and build an integrated aluminium value chain under the government’s broader economic transformation agenda.
Under the partnership, Danieli intends to invest approximately €300 million in downstream aluminium processing infrastructure within the proposed Integrated Industrial Park in the Tema Heavy Industrial Zone.
A key component of the investment is the construction of a modern aluminium foil rolling plant with an expected annual production capacity of between 40,000 and 45,000 tonnes.
The facility will manufacture ten categories of high-value aluminium foil products targeted at the packaging, pharmaceutical, food service and industrial sectors, positioning Ghana as a competitive exporter of value-added aluminium products.
The project also includes the establishment of a Centre of Excellence dedicated to training, research, innovation and technical development in advanced aluminium processing.
The centre is expected to become a regional hub for skills development, technology transfer and capacity building, supporting the growth of Ghana’s manufacturing sector.
Speaking at the signing ceremony, Danilo Dreolini of the Danieli Group described the partnership as a strategic opportunity to help Ghana move beyond exporting raw materials by converting its abundant natural resources into high-value manufactured products.
He reaffirmed Danieli’s commitment to supporting Ghana’s industrial development and expanding its contribution to the country’s manufacturing sector.
The Italian Ambassador to Ghana, Laura Ranalli, welcomed the agreement and pledged the full support of the Italian Embassy, describing the MoU as another milestone in strengthening economic and industrial cooperation between Ghana and Italy.
Chief Executive Officer of GIADEC, Reindorf Twumasi Ankrah, said the agreement demonstrates Ghana’s determination to establish a fully integrated aluminium industry capable of generating greater value from the country’s bauxite resources.
He noted that GIADEC would continue partnering with credible international investors to position Ghana as an emerging hub for advanced aluminium manufacturing in West Africa.
According to him, the project aligns with the Corporation’s strategy of promoting value addition, industrialisation and export-led growth while creating sustainable employment opportunities for Ghanaians.
The proposed aluminium foil plant will be located within the Integrated Industrial Park in the Tema Heavy Industrial Zone, a project being developed by ARISE Integrated Industrial Platforms (ARISE IIP) in partnership with GIADEC and Tema Development Corporation (TDC) Ltd.
The location offers significant competitive advantages, including proximity to the Volta Aluminium Company (VALCO), Tema Port and existing industrial infrastructure, making it ideal for efficient export-oriented manufacturing.
Beyond increasing local processing capacity, the investment is expected to accelerate Ghana’s transition from exporting raw bauxite to producing finished aluminium products with higher commercial value, enabling the country to retain more value within its economy.
The Centre of Excellence is also expected to strengthen local technical expertise through specialised training and innovation, while facilitating technology transfer to Ghana’s manufacturing sector.
The project is projected to create substantial direct and indirect employment opportunities and stimulate the growth of upstream and downstream industries within the Tema industrial enclave.
Officials believe the investment will enhance Ghana’s export competitiveness, increase foreign exchange earnings through processed aluminium exports, and strengthen investor confidence in the country’s manufacturing sector.
Over the longer term, the integration of infrastructure, technology and strategic investment within the industrial park is expected to reinforce Ghana’s industrialisation agenda and support the country’s ambition of becoming a leading aluminium processing hub in West Africa.
The signing ceremony was attended by senior officials of GIADEC, the Danieli Group, the Italian Embassy in Ghana and the Ministry of Lands and Natural Resources.
