Business News of Sun, 11 Feb 201813
Ekumfi District gets another factory
A new factory is expected to be established in the Ekumfi District of the Central Region under the government’s ‘One District, One Factory (1D1F) initiative.
A pineapple processing factory was recently inaugurated in the district and another factory, which is going to focus on salt production, is in the offing.
Asida Salt Limited, which will be sited at Ekumfi Ekumpoanu in the Ekumfi District, has been successfully selected to be part of the government’s flagship programme, after going through all the essential processes after several months.
With this development, the Ekumfi District, which is one of the most deprived areas in the Central Region, would be the first to benefit from two factories under the ‘1D1F’ initiative, and it’s expected to further create employment opportunities, especially for the youth.
The company has acquired about 160 acres of land for the salt project.
Chief Executive Officer (CEO) Prince Adjei Amoah said in a news release that the company is on the brink of securing a loan facility from EXIM Bank Ghana to expand the project in order to increase production and the workforce.
He further stated that the project is expected to create employment for about 650-700 people after the expansion, adding that “after the expansion they are expecting to export salt to countries like Nigeria, Niger, Mali and Baukina Faso.
“The demand for salt is very huge with Ghana and Senegal as the leading producers in the West African sub-region. Salt, as a renewable natural resource, contributes millions of dollars annually to the economy and employs more than 2,000 people,” he said.
He said that in the ECOWAS sub-region, the demand for industrial salt is estimated at over 3.5 million tones, and Ghana is taking advantage of the huge demand to become a market leader.
He said that the company, in collaboration with the Ekumfi District Assembly, has begun the process of providing electricity, good roads and other facilities for the successful implementation of the project.
“Salt, despite its core domestic use, is a versatile product in Africa and the world at large. It’s used in the production of chemical products, which historically West Africa, has not been capable of manufacturing in large commercial quantities,” he noted, adding “it’s used by petrochemical industries and for the manufacture of animal feed for the livestock industry.
“Our capacity is low and we need partnership, which would be of interest to the nation. If we develop the salt industry through the private sector, it would become a major exporting commodity that would bring more foreign exchange to Ghana, which may even supersede what Nigeria is earning in oil today,” he said.
He said Asida Salt Limited would support the government’s industrialization programme.