Ghana Cement Works (GHACEM) is to expand the production capacity of its factories at Takoradi and Tema to meet increasing demand for cement, Mr. Jean Marc Junon, Chairman of the Board of GHACEM, said this on Thursday. He told journalists on Thursday at a Meet the Press session that the Takoradi and Tema factories were each producing 1.2 million tons of cement annually. The expansion would enable the two factories to produce additional 650,000 tons each to increase their annual production to 1.9 million tons, he said. Mr Junon said the expansion programme at the Tema Factory would take off from the first quarter of 2011 and is expected to be completed in the third quarter of 2012. He said the expansion works at the Takoradi factory are expected to take off soon after the inauguration of the Tema factory. Mr. Junon said the expansion programmes demonstrated the company's efforts in consolidating its position as the leading cement manufacturer in the country. He said the company had demonstrated over the past six years that that it was committed to the use of local raw materials for the production of cement. Mr. Junon said GHACEM started using local limestone in 2004 with supplies from the Eastern Region and its cement had been produced with a local component of about 25 per cent since that time. He said the company had already started mining limestone from the Jomoro District to the Takoradi factory. Dr. Ishmael Yamson, a member of the GHACEM Board, said the expansion programmes would cost Euros 20 million and that companies doing business in the country must invest in the economy to create jobs and wealth for the benefit of the people. Dr. Yamson said revenue from oil and gas should be invested in manufacturing and production sectors to support the economy.Source: GNA