According to Ghana News Network on November 5, Dr mutaka alolo, economic and technical consultant of Ghana vice president's office, recently disclosed to Ghana media that the agreement on infrastructure exchange for bauxite resources reached by Ghana government and China Water Conservancy and Hydropower Construction Co., Ltd. in July 2018 is expected to be implemented and implemented in 2020.

News background: Sinohydro Corporation Limited and the government of Ghana cooperate to obtain the right to develop bauxite resources in July 2018, finance minister Ken ofori atta of Ghana announced that he would reach a US $2 billion agreement with Sinohydro Group Limited and the Chinese government would provide funds for the construction of infrastructure projects in the country Gold and technical support.

He said the agreement will adopt the principle of mutual benefit and win-win results. Sinohydro will invest US $2 billion in infrastructure construction and will also acquire the right to develop bauxite resources in Ghana. Ghana will set up an aluminum smelter in the next three years and choose its own partners to jointly refine bauxite.

The Ghanaian government believes that the agreement is in line with the government's strategy to bridge the country's slow infrastructure development through a new investment model based on natural resources. According to the 2015 Africa infrastructure diagnosis report, Ghana needs 1.5 billion US dollars of infrastructure construction fund every year in the next 10 years. However, the finance minister clarified that under the Sinohydro agreement, $2 billion in infrastructure would not increase Ghana's debt burden According to Ghana's official estimates, Ghana's bauxite reserves are estimated to exceed 1.5 billion tons. In addition, there are about 200 million tons of bauxite reserves in the range of atiwa mountains in kyebi, 350 million tons in nyinahin and 1 billion tons in awaso. The estimated value of these bauxite reserves is $554.9 billion. (From CCMN)