Komenda Sugar factory set to be leased to Indian firm for 15 years – K.T. Hammond

Ghana's Minister of Trade and Industry, K.T Hammond has revealed that the government intends to lease the Komenda Sugar Factory to West African Agro Limited, an Indian corporation, for a 15 to 20-year renewable period. 

The Minister claims that this is required to revive the faltering factory's operations. 

He made this announcement during a working visit to the factory in the Komenda Edina Eguafo-Abirem Municipality of the Central Region.

According to him, the project is part of bigger plans to develop the local sugar industry, cut sugar imports, and generate jobs.

The $35 million facility which was created to reduce sugar imports, and create direct and indirect jobs for about 7,300 people was launched in May 2016 by former president John Mahama with funding support from EXIM Bank. 

However, following its commissioning, the factory's operations came to a standstill due to a slew of issues until the government inked a $28m collaboration deal with a Ghanaian-Indian business, Park Agrotech Ghana Limited aimed at reviving it.

During an event in the central region to unveil his running companion, former President Mahama reiterated his intention to making the factory operational if elected in 2024. 

In response, Hammond chastised the former President for presiding over a factory that had no idea where raw supplies for production came from.

He questioned Mahama's chances of winning the 2024 election and his promise to resuscitate the factory.

Source : Lead News Online