Ghana, through the Ghana Integrated Aluminium Development Corporation (GIADEC), has signed a memorandum of understanding with Italian engineering firm Danieli & C. Officine Meccaniche S.p.A. for a €300 million investment to develop an aluminium rolling and foil production facility in Tema, officials and industry sources said.

The project is expected to be located within the Tema Integrated Industrial Park and will focus on producing aluminium sheets and foil, marking a further step in Ghana’s strategy to build an integrated aluminium industry.

The planned facility is projected to have an annual production capacity of around 40,000 to 45,000 tonnes and is designed to supply packaging, industrial, and consumer goods sectors across Ghana and the wider region.

According to GIADEC, the initiative is part of a broader national plan to develop the full aluminium value chain, from bauxite mining to refined and finished products, reducing reliance on raw material exports and increasing domestic value addition.

Danieli, a global leader in metallurgical engineering, is expected to provide technical expertise and industrial equipment for the project. The agreement also includes plans for a centre of excellence focused on training, innovation, and skills development in aluminium processing.

The Tema industrial zone was selected due to its proximity to existing infrastructure, including the Volta Aluminium Company (VALCO) smelter and port facilities, which are expected to support logistics and industrial integration.

Ghana has been pursuing an industrialisation strategy through GIADEC aimed at transforming its bauxite and aluminium resources into a fully integrated value chain to support manufacturing growth and job creation.

The agreement marks one of the country’s latest efforts to attract foreign investment into downstream industrial processing, rather than exporting raw materials.