Logging in
Volta Lake to begin in September 2010
Accra, Sept. 25, Ghanadot/GNA
– Barring any unforeseen circumstances, underwater logging
in the Volta Lake is expected to begin in September 2010.
This follows the signing of a partnership deal between
Clarke Sustainable Resources Developments (CRSD) and Triton
Logging to implement the commercial phase of the Volta Lake
Timber Project.
The two companies on Thursday initialled a commitment letter
to enable Triton to deliver its world-leading underwater
logging technology to the Project, to pave way for
commercial operations to begin.
Triton Logging will deliver the SHARC system, which works in
shallow waters and the Sawfish underwater logging equipment
for deep water operations.
CSRD Founder and President, Wayne Dunn, and Triton’s Founder
and President, Chris Godsall, expressed satisfaction about
the agreement.
“We are both very excited about delivering these
technologies to Volta Lake in the latter half of 2010. We
are equally excited about bringing our two companies
together in a merger that will see us expand the underwater
logging industry on a global basis. Our shared commitment to
the principles of sustainable business development forms a
strong foundation for success,” they said in a statement.
The Volta Lake was created with the construction of the
Akosombo Dam in 1964, resulting in the submergence of tracts
of forest, and the relocation of some 80,000 people to 52
newly created townships on the Lake’s higher banks.
It is estimated that timber resources worth 2.8 billion
dollars are locked up under the Lake.
In February 2006, the Volta River Authority and Government
of Ghana signed an agreement for phase one on harvesting,
processing and marketing of timber from the Volta Lake with
CSRD.
The agreement was ratified by Parliament on July 28, 2006.
It comprised a Preparatory Phase (Phase One) and a
Commercial Phase (Phase Two), and allows CSRD to develop and
launch privately financed timber salvage and processing
operation on the Volta Lake.
Highlights of the agreement include the underwater stock
survey and inventory of commercial tree species in Volta
Lake, a comprehensive Environmental and Social Impact
Assessment studies before commercial operations commence.
It is estimated that about 100 million dollars worth of
investment will be brought into Ghana in addition to payment
of corporate taxes to government.
The project will ensure environmentally certified timber
products from Ghana to the global market, establish Ghana as
a world leader in underwater timber harvesting and develop
technologically advanced processing and other value-added
capabilities in Ghana.
Mr. Nayon Bilijo, Director of Strategic Relationships, CSRD
said the objective of Phase One was to assess the timber
resource potential in the Volta Lake and determine best
harvesting, processing and marketing techniques.
It will also determine relevant environmental and social
interventions; financing arrangements required to develop
the underwater logging industry and associated value added
activities in Ghana.
Mr. Bilijo said CSRD was to execute the project at no cost
to government and secure all required financing for the
project, source and finance appropriate technology for
underwater harvesting of timber from Volta Lake.
He said the project would benefit the country through
injection of direct foreign investment.
Another key benefit to Ghana would be lake transportation
safety with the harvesting of submerged trees, which have
caused fatal boat accidents on the Volta Lake in the past.
CSRD has completed Phase One of the project and submitted
the final report to signatories of the agreement after an
earlier submission in November 2008 of a Completion Report
to Government of Ghana.
Mr. Bilijo said the industry would create jobs and generate
revenue for Volta Lake communities and the country.
The Phase One budget of over 17 million dollars was financed
entirely with private capital.
Mr. Gordon Smith, Board Chairman of Triton, said the company
would bring to bear its environmentally and socially
sustainable underwater logging operations into Ghana.
GNA
