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LONRHO to invest in the oil industry

  • SOURCE: | qwesa2big
  • Management of LONRHO has expressed its preparedness to invest in Ghana’s oil industry and has expressed interest in building an oil service terminal.

    Mr Geoffery White, Director and Chief Executive Officer of LONRHO, said the company had undertaken similar projects in many countries including Equatorial Guinea.

    He said this when he called on the Western Regional Minister, Mr Paul Evans Aidoo on Wednesday.

    Mr White said the company would use local employees at the project site and some would be trained in specific areas abroad.

    Mr Aidoo said land was available for investors but appealed to prospective investors to use acquired lands for their intended purposes.

    Mr White called on the management of the Takoradi Harbour and toured the port to assess its facilities.

    At the meeting, Mr Gordon Anim, Director of the Takoradi Port, said the expansion programme of the port was underway to contain modern facilities to accommodate heavy duty vessels.

    The port, he said, handles about 70 percent of national exports and 18 percent of national imports annually in general cargo and minerals resources.

    He said oil and gas had added to its challenges hence the expansion programme and expressed regret that oil companies were using facilities in inappropriate locations instead of the port

    This, Mr Anim said, would stop after the expansion programme had been completed.

    He said the oil and gas industry had contributed to the turnaround vessels at the port. In 2009 vessel calls increased to 956 from 615 the previous year and then shot up to about 64 percent in 2010.

    Mr Anim is mainly due to the increasing use of the port by mining companies, importers/exporters and calls from oil supply vessels.

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