$24.5m EXIM credit facility to be used to revamp Komenda Sugar Factory

The Ministry of Trade and Industry has announced plans to revive the dysfunctional Komenda Sugar factory in the Central Region of Ghana.

To this effect, the Ministry after technical audit of the factory has rolled out several measures based on recommendations by experts to ensure the facility is up and producing sugar for domestic trade and export.

Addressing Parliament on Thursday November 2, 2017, the Minister of Trade and Industry, Alan Kyerematen among other things said, the ministry would use $24.5 million Indian EXIM credit facility to cultivate about 14,100 acres of sugarcane to continuously feed the factory to avoid break in production.

He said, a governing Board of Directors would be formed with the responsibility of providing “high level strategic direction and leadership for the company and the ministry would also “ensure full compliance with the terms and conditions of the contract with the factory plant contractors, by ensuring that the remaining parts of the plant are fully installed and operationalised”.

Mr. Kyerematen also revealed that government will fully takeover the factory after it has negotiated and paid all debts owed contractors of the factory plant.