Akufo-Addo commissions two 1D1F projects in Central Region

Ert67 President Nana Addo Dankwa Akufo-Addo and other officials during the commissioning

Sat, 3 Sep 2022 Source: www.ghanaweb.com

President Nana Addo Dankwa Akufo-Addo has commissioned an US $18 million lubricant processing factory, Rikpat Company Limited, at Gomoa Akotsi in the Gomoa East District of the Central Region under the One District, One Factory initiative.

The commissioning exercise formed part of his two-day tour of the Central Region.

Addressing the gathering, the President noted that the story of Rikpat Company Limited is a story of Ghanaian entrepreneurial spirit that is motivated by supporting import-substitution and generation of foreign exchange through export, which are some of the key objectives underlying the 1D1F Initiative being pursued by the Government.

He paid special homage to the Promoter, Patrick Amoah for putting up such a modern facility in Gomoa Akotsi to create the needed employment, generation of foreign exchange and technology transfer which is so critical to the growth and stability of the economy.

The president assured them of the Ministry’s continuous support as the project goes into the next phase of operation.

On his part, Minister for Trade and Industry revealed that Rikpat Company Limited was accepted under the 1D1F Initiative in 2018 and completed construction in September 2021.

He commended the decision of the Promoter and Management to locate this edifice in the country, noting that it underscores the confidence that the private sector continues to have in the business environment and Government’s policy of industrial transformation agenda, especially under the ‘One District One Factory’ Initiative.

He applauded Universal Merchant Bank and other Participating Financial Institutions that are supporting the 1D1F companies with long-term facilities to ensure their competitiveness.

RIKPAT is an $18 million facility that aims to produce lubricants such as engine oils of different grades, brake fluids, industrial oils, greases, ATF, Diesel Exhaust Fluid (DEF), Radiator Coolant, Hydraulic Oils and Gear Oils for the local market and for export.

The company has the capacity to produce 350 metric tons of lubricants per day, 126,000 metric tons per year, would create 400 direct jobs and 2000 indirect jobs.

As part of the set-up, all plastic containers for packaging of the products are manufactured right in the facility, while all the laboratory investigations to ensure quality assurance for the products are also set-up and carried out on the premises.

Earlier, the President had visited Appeb Cylinder Manufacturing Company Limited, a wholly owned Ghanaian 1D1F company located at Oshiapo No. 2 in the Awutu Senya West District of the Central Region. The company is into the manufacturing of Liquefied Petroleum Gas (LPG) cylinders.

Construction started in 2019 and completed in 2021 with the commencement of operations in December 2021.

Appeb Company is the largest Liquefied Petroleum Gas (LPG) cylinders manufacturer in Ghana, in terms of production capacity with an installed capacity of 4000–5000 max (6kg /15kg) gas cylinders per day. The current production capacity is at 2000 cylinders per day due to the current market demand.

The company has initiated processes for acquisition of additional production lines to be able to support government’s Cylinder Recirculation Model (CRM).

Under the 1D1F Initiative, the company has also initiated the process to build a new bottling plant, to fill bottles with LPG gas in order to complete the value chain required for the Cylinder Recirculation Model (CRM).

Appeb Cylinder Manufacturing Company Limited has created direct jobs opportunities for 120 youth in the catchment area comprising of management, sales & marketing, factory floor staff and more than 300 indirect workers which include distributors of its cylinders in the country, packaging, transporters, etc. At full production capacity, employment is expected to increase to 250 direct jobs and more than 500 indirect workers.

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Source: www.ghanaweb.com
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