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Monday, July 15, 2024

Komenda Sugar Factory to be revived once borders reopen – Trade Minister

The Trade and Sector Minister, Alan Kyerematen states the Komenda Sugar Factory will be revived as soon as the country’s borders reopen.

The country’s borders have been shut as section of measures to control the spread of the coronavirus.

Despite the fact that a phased reopening of the nation has commenced, President Akufo-Addo states the country’s borders will stay shut until more notice.

Addressing Parliament from exactly where Joy News’ Joseph Opoku Gakpo experiences, the Minister claimed a strategic investor, Park Agrotech Ghana Limited has been authorised by Cupboard to enable revive the factory.

“In 2019, Park Agrotech Ghana Limited was approved by Cabinet as the most popular strategic trader for the Komenda Sugar Manufacturing facility. Park Agrotech Restricted, a corporation integrated and working in Ghana in the agribusiness sector will be performing with STM Undertaking Minimal, an Indian dependent firm that has considerable experience in the management and operations of sugar mills and plantations equally in India and other components of the planet.

“I would like to assure this august household that as quickly as the limitations on overseas travels arising from the Covid-19 pandemic is lifted and right after all the necessary and applicable protocols and approvals have been secured, the specialized companions of Park Agrotech will begin a detailed programme motion to provide the Komenda sugar manufacturing facility again to daily life,” he extra.

The Komenda Sugar Factory, which was crafted at a expense of $35 million from an Indian EXIM Lender facility, was inaugurated by then President John Mahama in May perhaps 2016, amid pomp and pageantry but was locked immediately after a number of take a look at operates.

The factory was also predicted to produce energy for its output activities and produce by-merchandise this kind of as molasses for the liquor market.

But quite a few issues, together with the unreliable supply of sugarcane for constant processing soon after the preliminary exam operate, hampered the functions of the corporation.

In November 2017, the authorities initiated processes to revive operations of the manufacturing facility.

Mr Kyerematen stated the closing negotiations of the arrangement with Park Agrotech Confined experienced to be delayed until the finalisation of the Nationwide Sugar Policy which was supposed to deliver the strategic policy framework for the implementation of the task.

“After a sequence of considerable stakeholder consultations, the National Sugar Plan was eventually authorised by cupboard in October 2019. The acceptance of the sugar coverage paved the way for the concessioner to be formally introduced to the chiefs and elders of the Komenda regular location in November 2019.

“The official agreement has now been executed involving Park Agrotech Restricted and Komenda Sugar Enhancement Business Minimal,” the Minister stated.

He disclosed that around the to start with 3 years of the settlement, Park Agrotech will devote an quantity of $28 million in funds expenditure and doing work cash together with paying an yearly concession fee of $3.3 million for a period of time of 15 several years.

The settlement will be efficient on the completion of circumstances precedent, which features the acceptance of the settlement by Parliament, he indicated.

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