- Trade and Industry Minister KT Hammond announced plans to lease the Komenda sugar factory to an Indian company
- The plant will be leased to the Indian company, West Africa Agro Limited, for a renewable period of 20 years
- He said the lease of the sugar factory to the Indian company will take over the operations of the factory to meet local demand.
The government has announced plans to lease Komenda Sugar Development Company Limited to an Indian company, West Africa Agro Limited, for a renewable period of 20 years.
Trade and Industry Minister KT Hammond revealed this during a site visit with potential investors.
He said that leasing the sugar factory to the Indian company will take over the operations of the factory to meet the local demand.
The initiative would be the second attempt to revive the sugar factory since 1964.
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Komenda Sugar Development Company Limited was established in 1964 but closed its doors shortly after. The Mahama government restored it in 2016.
The Mahama-led government had secured a $35 million loan from India’s Exim Bank and an additional $24 million investment to restore the factory’s operations.
The plant is currently in trial operation in preparation for full operation.
KT Hammond noted that leasing the plant to the Indian company would not change its ownership.
Citi News reported that he said the company would remain 100% Ghanaian owned but have Indian operators and that the government would receive dividends from the company’s use of the plant and its equipment.
He said the lease of the factory fulfills President Akufo-Addo’s promise to revitalize the factory.
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Kyerematen says Komenda Sugar Factory is 98% complete.
In 2022, then Trade Minister Alan Kyerematen revealed that the Komenda Sugar Factory was 98% complete and promised to start trials in July of that year.
The minister told Parliament on Tuesday that major restoration work on the plant’s equipment has been completed.
The minister was answering MPs’ questions about the sugar factory status, which became a hot topic after the shutdown.
The Minister of Trade and Industry said that the following projects have been completed as part of the renovation:
The installation of a new pipeline to and from the plant to the molasses stand is 100% complete.
Dining rooms and late works and furnace and boiler chimneys are 100% complete.
Boiler room vacuum and water test completed. The boiler has started operation and a steam pressure test is underway for the turbine, which will generate about 3 megawatts of electricity.
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Among many other repair jobs.
Dumelo dares Akufo-Addo to give him the Komenda factory
YEN.com.gh reported that actor John Dumelo has issued a challenge to President Akufo-Addo’s government.
In a tweet, he said he has the ability to turn around the factory’s meager fortunes.
Some people supported him in his challenge, while others weren’t so sure he had the power to make a difference
Source: YEN.com.gh