Govt secures US$35 million loan to revive Komenda Sugar Factory

The Government has secured a US$35 million from the Indian government to revive the Komenda sugar factory in the Komenda-Edina- Eguafo-Abrem Municipality (KEEA) of the Central Region.
It has also secured a US$24 million loan for irrigation for the cultivation of sugar cane on a 1,500 acre of land in the municipality.

The 1250 TCD Sulphurless white sugar plant with 1MW Surplus power is to be constructed by SEFTECH India PVT. Limited, Keytuo Chemicals Compound, Kondivita Andheri (East) Mumbai, India.

The Minister of Trade and Industry, Mr Haruna Iddrisu made this known to the Central Regional Minister, Mr Samuel Sarpong, a delegation of the Investors and the Omanhen of the Komenda Traditional Area, Nana Kodwo Kru II at a meeting at Komenda to discuss the way forward.

Mr. Iddrisu, therefore, tasked the KEEA Municipal Chief Executive, Isaac Kweku Sam and Nana Kodwo Kru to fix a date for President John Dramani Mahama to perform the ground breaking ceremony for work to begin on the construction of the new plant.

Mr. Iddrisu said the government was committed to reviving the sugar industry in the area to create jobs and wealth for the people.

He noted that the government had secured an Indian government loan of US$35 million with a component of US$1million from the government of Ghana for the project.

The Minister indicated that the investors would utilize 1000 acres for cultivation while the 500 acres would be allocated to out-growers to support the supply of the raw material.

Mr. Iddrisu asked the investors to rely on the labour of the people in the area to add local content to the project.

He commended the chiefs and people for their absolute and utmost support for the project and expressed the hope that the people would take advantage of the project to reduce poverty in the area.

The Central Regional Minister, Mr. Sarpong commended the chiefs and people for their total support and commitment for the revival of the industry and expressed the hope that they would maintain the zeal when the factory becomes operational.
He also commended the former Member of Parliament who was a deputy minister of Trade and Industry, Dr. J.S. Annan and the current MP, Dr. Nana Ato Arthur for their support for the project.

The Omanhen of the Komenda Traditional Area, Nana Kodwo Kru II also commended the investors, the Indian government, the government of Ghana and all stakeholders for reviving the industry to breathe life into the economy of the area.

By Joe Okyere/Daily Graphic/Ghana