Parliament Approves 👍 Deal to Trade Ghana’s Bauxite for Chinese-Funded Roads 🛣

  |   Ghana News

Parliament has passed the master project support agreement for a 2 billion dollar facility for the construction of priority projects by Chinese firm SynoHydro Corporation.
The said facility would be in exchange for alumina processed from Bauxite deposits in the country as announced by Finance Minister, Ken Ofori Atta in the mid-year Budget Review.

Mr Ofori-Atta said in the mid-year budget review that Sinohydro Group Limited, is expected to “provide US$2 billion of infrastructure including roads, bridges, interchanges, hospitals, housing, rural electrification, in exchange for Ghana’s refined bauxite.”

The house was earlier divided over the agreement.

Earlier on Saturday, the House also passed four tax amendments to reflect the reality of government policy as announced in the Mid-Year Budget Review.

The Bills are the Ghana Education Trust Fund (GETFund) Amendment Bill, The National Health Insurance Levy (NHIL) Amendment Bill, The Income Tax Amendment Bill and the Value Added Tax Amendment Bill.

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