The Ministry of Trade and Industry has signed a non-binding Memorandum of Understanding with a Danish private limited company, Byteblocs International, to promote the investment and development of an Aluminum Recycling and Components Manufacturing Plant (which will include Lithium batteries), LED Lighting and Electric mobility vehicles manufacture in Ghana.
The signing ceremony took place when Ghana’s Ambassador to Denmark, H.E. Sylvia Annoh, led a Danish business delegation to pay a courtesy call on the Minister of Trade and Industry, Hon. Kobina Tahir Hammond. Hon. K.T. Hammond initialed for the Ministry, whilst Jakob Munkgaard Andersen signed on behalf of Byteblocs.
The Parties agreed that the implementation of the Project contemplated by the agreement would be subject to the receipt of all applicable governmental, regulatory, and other approvals that may be required as per the laws and regulations of the respective countries of each Party and each Party’s internal regulations including but not limited to Standards and Certification.
As part of its responsibilities under the MoU, the Byteblocs will take into consideration sustainable and environmentally friendly production systems, skills development, and the transfer of technology to Ghanaians, including partnerships with local suppliers and distributors and training for employees and agents. The project will also include the setting up aftersales stations or centres across the country.
On its part, the Ministry of Trade and Industry and its agencies and relevant authorities, is to assist the Project in identifying suitable land for acquisition, as well as offer relevant incentives and regulatory support to the Project in line with the relevant policies and laws of Ghana. The Ministry also undertook to assist the company to acquire, residence and working permits in Ghana, including visas for planning and commencement activities.
The MoU will remain in effect for a period of five (5) years, even though either Party may terminate it at any time by giving the other Party thirty (30) days’ written notice.