GOIL plant will decrease imports of bitumen

Rapid News GH

With the commercial production of polymer-modified bitumen (PMB) in the nation, Ghana is on track to cut the $11.8 billion average annual bitumen import cost.

The bitumen production facility in Tema was established by petroleum downstream and midstream player GOIL as a tactical move to enter new markets and to assist the nation in lowering the amount of foreign currency it spends importing the product from South American neighbors Brazil and Cote d’Ivoire.

GOIL thinks its 240 metric tons per day bitumen capacity, or more than 87,000 metric tons per year, will considerably help to bridge the gap with Ghana’s estimated 192,000 metric tons per year demand for bitumen.

According to Graphic Online’s Della Russell Ocloo, who spoke with Kwame Osei Prempeh, the Managing Director and Group Chief Executive Officer (CEO) of GOIL, the manufacture of PMB was a crucial intervention to considerably reduce the cost of road development in Ghana.

Ghana also aims to export the product to other West African markets in order to make money overseas.

About Author

Leave a Reply

Your email address will not be published. Required fields are marked *