Electrochem Ghana Limited is advancing its $500 million integrated salt project in Ada, aiming to transform Ghana’s salt industry by increasing production to up to five million tonnes annually.

Despite setbacks, including a $20 million loss from a recent attack, the company remains steadfast in its goal to complete the ambitious project by 2027.

As part of the initiative, Electrochem has already invested $120 million in constructing salt works, the foundation for raw salt production. Additionally, work is underway on a $40 million salt refinery with a daily processing capacity of 100 metric tonnes, along with $85 million worth of chemical processing plants for caustic soda and bromine.

Beyond production, Electrochem envisions establishing an industrial park to attract manufacturers reliant on salt-based raw materials, such as a P.O.P cement plant. The company also plans to set up a university dedicated to industry research and workforce training.

CEO of the McDan Group, Electrochem’s parent company, Kwaku Ampromfi, stated that with a target of producing three to five million tonnes of salt annually, relying solely on road transport is neither cost-effective nor sustainable.

He has revealed that, the company plans to invest $100 million in building a port to enhance logistics and ensure efficient transportation.

“We are seeking to produce a minimum of three to five million tonnes of salt annually. To handle these kinds of volume, transporting by road is neither safe nor economical.

“So, the plan is to build a port, which will then be used to move these volumes. We expect this to cost about US$100 million.

“Putting all of these together, we are looking at a total investment of US$500 million. We expect all these projects, some of which have already commenced, to come on stream within two years,” he added.

Meanwhile, the Minerals Income Investment Fund (MIIF) has reinforced its support for Electrochem by making a GH¢365 million equity investment in the company.

A key condition of MIIF’s investment requires Electrochem to be listed on the Ghana Stock Exchange within three years.

However, this process has been delayed due to the absence of a board of directors for the Securities and Exchange Commission (SEC) since August 2024.