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Business News Mon, 27 May 2019

Investors have expressed interest in Komenda Sugar Factory - GIPC CEO

The Chief Executive Officer of the Ghana Investment Promotion Council (GIPC), Yoofi Grant has told Citi News that a number of foreign investors are ready to invest in the Komenda Sugar Factory.

Yoofi Grant said government is critically examining their proposals before giving the green light.

Traditional Rulers in the Central Region have asked government to re-open the Sugar Factory which once served as a source of livelihood for residents of the Region.

Speaking to the demands, Yoofi Grants said there are other investment opportunities government is exploring in the Central Region.

“We are speaking with quite a number of interested parties to make sure we have the right investor.”

The $35 million factory has been dormant due to a lack of funds.

It was also noted that the sugar cane variety meant to feed the factory was not up to the required specifications.

It was closed down in June 2016, barely a month after then-President John Mahama commissioned it.

It was expected to be producing about 1,250 tonnes of sugar each day.

The factory, at its full capacity, can, in a year, produce 97% of the nation’s sugar needs, representing 250,000 tons.

Former President John Dramani Mahama recently warned government against selling the sugar factory.

“It is unacceptable to sell the factory. We can get the expertise and the technology to make this factory work,” he said to the media during his thank you tour of the Central Region.

Source: citinewsroom.com
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