Accra, Dec.18, GNA – South African Investment Banking firm CapitalWeb Partners (PTY) Limited has raised USD$ 350million for Hi Limit Group, the developers of Government’s one village, one dam programme
The amount is an initial amount to enable the Hi-Limit Group to continue its investments in the One Village One Dam-IAREPE Project across the Northern regions of Ghana.
It will also encourage further study and construction take off by honoring Contractors advance mobilization payments while additional fundraising continues up to USD 850million.
A statement from the Communications desk of CapitalWeb Partners said the organization plans to deploy more capital to reach the USD$ 850million cap for its debut investment in Ghana by second quarter of 2022.
The funds which will be administered by Société General Bank Ghana PLC will be disbursed to project service providers and Chinese state-owned contractors COMPLANT, CNPC Jichai Power Company, Zhongmei Engineering Group and Shandong Dejian Group respectively.
The One Village One Dam-IAREPE Project is an Integrated Agriculture with Renewable Energy for Poverty Eradication being developed by Hi-Limit Group in a public-private partnership arrangement with the Government of Ghana.
The project estimated at 5.6 billion dollars is being supervised by world renowned Buruea Varitas Group headquartered in France and covers the construction of 440 units of 1MW Dairy Farms Biogas mini grid plants plus Aquaculture and Irrigation Dams, 515,544.01 metric tons per year 99.5% bio-ethanol fuel refinery plants, 500MW refinery plant co-generation power for national grid, and 1000liter/hr skimmed milk plus 100kg/hr milk powder processing plant.
GNA