Yofi Grant
The
Komenda Sugar Factory in the Central Region is set to begin operations in mid 2020.
Chief
Executive Officer (CEO) of the Ghana Investments Promotion Centre (GIPC), Yofi
Grant, who made this known said, “We have interested parties, quite a number
who are working hard to do that.”
He made the disclosure when the Central Regional House of Chiefs called on
President Akufo-Addo at the Jubilee House yesterday.
President
of the Regional House of Chiefs, Obrempong Nyanful Krampa, called for the revival
of certain factories in the region, key among them being the Komenda Sugar
Factory, which was closed after the fanfare that characterized the grand
opening by the previous Mahama administration.
The
Komenda Sugar Factory, which was built at a cost of $35 million from an Indian
EXIM Bank facility, was inaugurated by then President John Mahama in May 2016,
amid pomp and pageantry but was locked after a few test runs.
The
factory was also expected to generate energy for its production activities and
produce by-products such as molasses for the alcohol industry.
But
many challenges, including the unreliable supply of sugarcane for continuous
processing after the preliminary test run, hampered the operations of the
company.
In
November 2017, the government initiated processes to revive operations of the
factory.
The
Minister of Trade and Industry, Alan Kyerematen, told Parliament that a
$24.5million Indian EXIM Bank credit facility was being sourced to develop and
implement a plantation and out-grower scheme in a bid to provide raw materials
for the factory.
Under
the scheme, some 14,100 acres of sugar cane would be cultivated to feed the
plant.
Delay
in the release of funds for the growing of the sugarcane has turned the plant
into a white elephant.
But
the GIPC boss also revealed that talks are being held with a number of
interested parties from Turkey, Dubai and Europe.
He
also said discussions are being held with an investor to secure $1 billion for
the ‘Cape Coast Green City’ project, adding that feasibility study has already begun.
President Akufo-Addo also reiterated the government’s determination to fix deplorable roads in the region.
By Charles Takyi-Boadu, Presidential Correspondent
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