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China Daily Website

Ghana state gas company to go public

Updated: 2013-04-25 14:11
( Xinhua)

ACCRA - The Ghana National Gas Company Limited (GNGCL) said on Wednesday that it would go public as soon as it was firmly established.

George Sipa-Adjah Yankey, chief executive officer of GNGCL, made the remarks at the second Ghana Gas Forum which opened in Accra on Wednesday.

He said it will enable Ghanaians to own part of the company and participate in its operations when it is listed on the Ghana Stock Exchange (GSE).

He noted that bringing in some more capital was not the primary reason for that decision but "we want Ghanaians to participate in their company".

"The project is about 60 percent complete and is expected to deliver gas in the last quarter of 2013," said Yankey.

The GNGCL was incorporated in July 2011. China's Sinopec led the development of the $1 billion gas infrastructure with 85 percent of the cost from the China Development Bank loan. The other 15 percent came from the Ghanaian government.

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