Ghana secures €300 Million Deal for Aluminium Foil Plant to drive industrial growth

Two men in suits sign documents at a table as colleagues stand behind them in a formal signing ceremony with a small flag on the table.

By Prince Antwi June 26, 2026

Ghana has strengthened its industrialisation drive with the signing of a €300 million Memorandum of Understanding (MoU) between the Ghana Integrated Aluminium Development Corporation (GIADEC) and Italian engineering firm Danieli for the establishment of a modern aluminium foil production facility.

The agreement, signed on Wednesday, June 17, 2026, at the residence of the Italian Ambassador to Ghana, is part of government’s broader strategy to develop an integrated aluminium value chain and maximise returns from the country’s bauxite resources.

Under the arrangement, Danieli will invest in a cutting-edge aluminium foil rolling plant to be located at the Tema Integrated Industrial Park. The facility is expected to produce between 40,000 and 45,000 tonnes of aluminium foil annually, serving industries such as food packaging, pharmaceuticals, catering, and general industrial applications.

The project also includes the establishment of a Centre of Excellence dedicated to training, research, innovation, and technology transfer. The centre is expected to serve as a regional hub for capacity building in advanced aluminium processing and manufacturing technologies.

Speaking at the signing ceremony, a representative of the Danieli Group, Danilo Dreolini, described the initiative as a major opportunity for Ghana to transition from raw material exports to high-value industrial production.

The Chief Executive Officer of GIADEC, Reindorf Twumasi Ankrah, also welcomed the partnership, describing it as a strategic milestone in the transformation of Ghana’s aluminium sector.

“GIADEC will continue to partner with credible global firms to position Ghana as an emerging hub for advanced aluminium manufacturing in West Africa,” he stated.

The facility will be sited within the Tema Heavy Industrial Zone, developed in collaboration with ARISE Integrated Industrial Platforms and the Tema Development Corporation. Its proximity to the Volta Aluminium Company (VALCO) and the Tema Port is expected to provide significant logistical advantages for export-oriented production.

The project is projected to generate both direct and indirect employment opportunities, stimulate related industries along the value chain, enhance skills development, and boost foreign exchange earnings through value-added exports.

The signing ceremony was attended by officials from GIADEC, Danieli Group, the Italian Embassy in Ghana, and the Ministry of Lands and Natural Resources.

The partnership is being viewed as a key step in advancing Ghana’s ambition to build a competitive, industrialised economy under ongoing national development initiatives.