Ghana to exchange its bauxite for roads and schools from China.

Finance minister, Ken Ofori Atta, has revealed that Ghana will be trading its bauxite to China in return for roads, hospitals and other development projects.

This was contained in the mid-year budget review presented on the floor of parliament. According to the finance minister, the Chinese firm, Sinohydro Group Limited, will provide “US$2 billion of infrastructure including roads, bridges, interchanges, hospitals, housing, rural electrification, in exchange for Ghana’s refined bauxite”.

The finance minister further stated in his presentation that Ghana should expect a new bauxite refinery within the next three years in collaboration with some selected private partners with 30 percent local participation.

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