Sinohydro Group Ltd planned to develop Ghana Sinohydro Aluminum Smelter Project, in Ghana. The project covered the construction of an Aluminum Smelter. China and Ghana signed the agreement in which China would have access to sites to mine bauxite as compensation for the development assistance. Both governments of China and Ghana determined to ensure the success of the ‘bauxite for development’ barter deal, which would see the leveraging of a fraction of Ghana’s bauxite to undertake a massive overhaul of its infrastructural, industrial and agricultural base. Sinosure (China Export & Credit Insurance Corporation) has approved the first lot of the Phase I.