Audio By Carbonatix
President Akufo-Addo has justified the delay in the operationalisation of the Komenda Sugar Factory.
According to him, the detailed processes that need to be followed for the realization of the facility’s full potential is critical, and requires government to be meticulous in its approach towards it.
"We needed to make sure that the planning of the factory... I'm talking about the whole process beginning from the raw material import to the process itself being done in a manner which will guarantee the viability of the factory," he said.
He made these comments on ATL FM in Cape Coast as part of his tour of the Central Region.
In June this year, Trade Minister Alan Kyeremanteng revealed that a strategic investor, Park Agrotech Ghana Limited had been approved by Cabinet to help revive the factory.
He disclosed that over the first three years of the agreement, Park Agrotech was to invest an amount of $28 million in capital expenditure and working capital including paying an annual concession fee of $3.3 million for a period of 15 years.
Speaking on the delay of the project, the President clarified that the factory had not been abandoned and remains in the plans of the NPP administration's industrialisation drive.
"There was the need for us to look at the project and make sure that the processes were there that would enable operationalisation," President Akufo-Addo explained.
The Komenda Sugar Factory, which was built at a cost of $35 million from an Indian EXIM Bank facility, was inaugurated by then-President John Mahama in May 2016, amid pomp and pageantry but was closed down after a few test runs.
Latest Stories
-
Mahama won’t appoint more than 60 ministers – Ayariga
13 minutes -
AU inaugurates committee to drive AfCFTA implementation
16 minutes -
CDD lauds Mahama’s administration for exceptional macroeconomic stability
19 minutes -
Ghana calls for greater inclusion of women, youth in West African leadership
22 minutes -
Ghana, Burkina Faso sign seven agreements to deepen security, economic cooperation
27 minutes -
Seized trucks: Government bans land transit of cooking oil
32 minutes -
U.S. Embassy warns Ghanaian travellers against visa overstays during 2026 World Cup
39 minutes -
Deportation of Chagos Islanders blocked by judge
42 minutes -
We’re in talks with Adeleke’s family to resolve Sophia, Davido custody dispute – Dele Momodu
51 minutes -
Rare prison sentences handed to Cameroon soldiers after killing of 21 civilians
1 hour -
CDM declares teacher recruitment crisis a ‘national emergency’
1 hour -
5 bodies of migrants washed ashore in east of Libya’s capital Tripoli, police officer says
1 hour -
Greenland says ‘no thanks’ to Trump US hospital boat
1 hour -
Powerful winter storm slams US northeast as NYC issues travel ban
2 hours -
Kim Jong Un re-appointed leader of North Korea’s ruling party
2 hours
