BUSINESS

Komenda sugar factory to be operational before the end of the year – Trade Minister

 

 

The Minister for Trade and Industry, Hon. Alan Kwadwo Kyeremateng has told Parliament, the Komenda Sugar factory will start production before the end of this year, 2021.

 

He explained that, as he presented to Parliament during his ministerial vetting in February this year, the Ministry of Trade and Industry, is working in collaboration with its Transaction Advisor PricewaterhouseCoopers Ghana Limited, and in the process of concluding the Conditions Precedent for the activation of the Concession Agreement with the selected Strategic Investor, Park Agrotech Limited to commence operations at the Komenda Sugar Factory.

 

The minister’s answer came as a response to a question filed by the Hon Member of Parliament for Komenda/Edina/Eguafo/Abirim, Dr Samuel Atta Mills, asking the Minister for Trade and Industry, why Komenda Sugar factory is still closed and what has happened to the strategic investor the country was promised.

 

Mr Kyeremateng added that he previously indicated, Park Agrotech Limited is an agro-processing company based in Ghana who together with its technical partner based in India, have significant expertise in the sugar cultivation and processing industry.

 

He concluded that he has instructed the Transaction Advisor and Park Agrotech to ensure that the Conditions Precedent to the Concession Agreement and a Road Map for the opening of the factory is finalized by the end of August to enable operational activities to commence before the end of this year.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Story by Nana Yirenkyi Freedom Radio Parliamentary correspondent

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