Home / We’re looking for investors for Komenda Sugar factory – Akufo-Addo

We’re looking for investors for Komenda Sugar factory – Akufo-Addo

President Nana Akufo-Addo says the government is currently scouting for a strategic investor to inject life into the struggling Komenda Sugar factory.

While lamenting the lack of proper planning in the implementation of the project by the Mahama administration, President Akufo-Addo gave assurances of ensuring that the factory becomes viable.

This, he believes, will bring economic relief to the area. “The previous plan that established is not the best. Those who started it could not complete it, and that is why we came to meet staggering dent and an idle factory.”

The Minister of Trade and Industry is looking for a strategic investor to come and divest here. We are still searching for one because the initial plans were not the best. It is now we are coming to organize things,” President Akufo-Addo.”

The $35 million factory remains dormant, due to a lack of funds.

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.

Following the closure, the factory had to sell sugarcane at its 125-acre seedling plantation to distillers of the local alcoholic beverage popularly known as ‘akpeteshie.’

Sugarcane farmers who had hopes of cultivating of supplying the Komenda Sugar factory have also been compelled to sell to producers of akpeteshie.

President Akufo-Addo is currently on a four-day working visit to the Central Region.

The Central Regional tour will see the President visit the Cape Coast, Gomoa West, Mfantseman, Agona West and Effutu constituencies.

This follows his visits to the Brong-Ahafo, Western, Volta, Northern, Upper East, Upper West as well as the Ashanti Regions.



Source: citinewsroom.com

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