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India is the second-highest foreign investor in Ghana, and biofuel producers are now looking to cultivate jatropha there.

Ghana is drawing significant foreign investment in the alternative energy sector led by China and India.

From 1994 to 2008, India registered 359 projects there, while China registered 368.

India’s investment in the African country is picking up steam. Mumbai-based chemical and petrochemical distributor Hazel Mercantile recently invested $45 million through its Ghana arm, the largest investment from India to-date. Hazel plans to cultivate jatropha there for biofuel.

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