Goil has entered into a joint venture with Societe Multinationale de Bitumes (SMB) of Cote d’Ivoire to construct a $35 million bitumen plant in Tema.
The plant, which has the capacity to produce 8,000 tonnes of Polymer Modified Bitumen (PMB) and Bitumen Emulsion, is expected to be completed in two years.
Presently, no oil marketing company in Ghana supplies PMB for road construction and most major road contractors import the product in bitumen containers from abroad, particularly from Cote d’Ivoire, which has been supplying 80 per cent of Ghana’s bitumen requirement.
Cutting the sod to commence the construction, the Minister of Energy, Mr John Peter Amewu, lauded GOIL for its strategic decision to become a major player in the bitumen market as a producer of the best quality PMB for the country.
He underscored the government’s determination to deliver major roads that were durable, robust and could withstand all weather conditions.
He commended GOIL and SMB for the bold and innovative initiative and noted that it was a classic example of cooperation in development worthy of emulation in the sub-region.