Komenda sugar factory to be operationalized by end of August-Kyeremanten

Trade and Industry Minister Alan Kwadwo Kyeremanten has told Parliament that the Komenda Sugar Factory will be operational by August ending this year.

The minister disclosed this while answering questions on the subject in Parliament on Thursday, July 22, 2021.

According to him, the transaction advisor has been asked to ensure the roadmap for the opening of the factory is finalized by the end of August 2021.

“I have instructed the transaction advisor to ensure that the condition precedent to the concession agreement and the roadmap for the opening of the factory is finalized by the end of August 2021 to enable operational activities at the factory to commence before the end of the year,” Alan Kyerematen said.

In 2019, the government announced that a Ghanaian-Indian company, Park Agrotech Ghana Limited, the new investor who will take over the operations of the factory was expected to invest $28 million into the factory between 2020 and 2023.

Out of the amount, $11 million was to go into sugarcane cultivation, $6 million to upgrade plant and machinery and $11 million as working capital to bring the ailing factory back on its feet.

The Ghana-based company is a subsidiary of the Skylark Group of Companies of India, one of the largest integrated farming businesses in India.

The Minister assured Parliament that the roadmap towards the operationalisation of the factory is being finalised.

By: Rainbowradioonline.com

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