While commissioning the plant, at the start of his two-day tour of the Western region, President Akufo-Addo said the total investment for the plant was 2.1 million US dollars, with GCB Bank providing a loan facility of US $ 1.38 million to the company, under the 1D1F Initiative implemented by the Ministry of Trade and Industry.
In addition, the plant has benefited from import duty exemptions on government plant, equipment and machinery which, among other incentives, were designed to boost the competitiveness of companies operating under the program. 1D1F.
The plant, which began construction on February 10, 2020, currently provides direct and indirect employment to more than 1,340 employees, including contract growers, latex harvesters, farm maintenance workers and transporters.
The president noted that locating the plant in the western region will encourage more Ghanaians to engage in natural rubber cultivation in the catchment area, as well as other neighboring regions to power the advanced plant.
With the emergence of the Ghanaian automotive industry, he was confident that the plant will play a vital role in the development of components for the automotive industry, such as vehicle tires, car seats and fan belts. , which could be produced from the raw materials currently made from the Narubiz rubber factory.
President Akufo-Addo congratulated the business developers and traditional authorities in the region for their unwavering support for the project, as well as the GCB Bank for providing the loan facility for the establishment of the factory.
KEDA ceramic plant phase 3
In Shama, the President commissioned phase 3 of the KEDA Ceramics plant, whose construction began in September 2019 and was completed in June 2021.
The plant generated some 2,000 direct jobs and 5,000 indirect jobs, with the company investing some $ 150 million in the three phases, increasing production capacity by 150,000 square meters of tile per day. Currently, the company exports 60% of the tiles produced to the West African market.
Recall that the President launched, Tuesday July 23, 2019, the first kickoff of the third phase of the expansion of the plant, a company operating within the framework of the government initiative “One district, one factory” .
President Akufo-Addo said, at the time, that “the company’s operations also saw a significant reduction in the import of tiles by up to 14%. The contribution that this company makes in the program industrialization of the country and transformation of our economy is important.
Particularly pleased with the company’s decision to source raw materials locally, the President noted that “a lot of these things we can do here in Ghana, we intend to start the process of doing them here in Ghana. Ghana. This is how we can develop our economy and start improving the standard of living of our people. ”