Ghana, Hunan Group Sign Volta Corridor MOU

Ghana, through its 24-Hour Economy and Accelerated Export Development Secretariat, signed a Memorandum of Understanding (MOU) with China's Hunan Architectural Design Institute Group (HADI Group). This agreement aims to advance Ghana's industrial transformation agenda by developing a state-of-the-art industrial planning framework for the Volta Economic Corridor (VEC). The VEC, a flagship initiative under Ghana's 24-hour economy program, stretches from Tema to Tamale and is envisioned as Ghana's first net-zero green economic corridor. It will integrate over two million hectares of arable land into agroecological parks, link them to industrial zones, and support them with multimodal transport infrastructure, all financed through private investment. Hunan Architectural Design Institute Group will provide master planning, spatial design, and infrastructure development expertise, including road networks, water systems, sewage infrastructure, and industrial park layouts. The partnership also includes technical training and knowledge transfer. The African Development Bank has already committed funding for feasibility studies on the transport component. This initiative is projected to create over 500,000 direct jobs and reduce power costs to below seven cents per kilowatt hour, enhancing Ghana's manufacturing competitiveness.