Accra, Sept. 7, GNA - The first-ever commercial scale underwater harvesting of timber and other species is to be carried out in the Volta Lake, starting from August next year, to improve safety navigation on the world's largest manmade lake.

Clark Sustainable Resources (CSR) Developments Limited, a Canadian private firm is to fully fund the project, which is estimated at between 15 and 20 million dollars.

The project basically is to make the lake stump-free, to promote fishing, tourism and other socio-economic activities on the lake that links the Volta, Eastern, Brong Ahafo, Ashanti and the Northern regions.

Government in February this year signed a Memorandum of Understanding with the CSR to award the contract, which was followed by Parliament ratification in August last month. The government of Ghana has 20 per cent stake in the overall harvesting of the timber, whilst the CSR takes the rest. Updating the press on Thursday in Accra, Mr Wayne Dunn, President of the CSR said, currently, the company was conducting research on the lake to identify the various species of plants to map up the harvesting strategies.

He said getting background information on the lake with regard to the type and size of species in it was very difficult, which called for inventory specialists on forest to conduct the studies. Mr Dunn said nowhere in the world has such a project been conducted on an industrial scale, therefore, the kind of equipment needed such, as water vessels and expertise would come from abroad. "This project is new, it is unique and could be an exciting industry that has the potential to boost trade and other socio-economic activities for Ghana," he said.

Mr Dunn said when completed, the project is expected to end the frequent fatal accidents on the Volta Lake. Over the years, it has been a great challenge to extract stumps from the Volta Lake in a manner that would be beneficial to the economy and sustain the environment Last year, government tasked VRA to secure external support to undertake the job.

Mr Dunn said his company, which was reputed for its commitment to corporate social responsibility and sustainable environmental practices, would not compromise on standards. He said it would also endeavour to protect the environment and the ecosystem by complying fully with Ghana's standards.