Minister of Trade and Industry, Alan Kwadwo Kyeremanten has commissioned the largest fabrication steel factory in West Africa.
The factory is located at Kpone in the Greater Accra Region and falls under the One District One Factory (1DF1), a flagship industrial initiative of the President of Ghana, Nana Addo Dankwa Akufo-Addo’s led government.
Cutting the sod to commission the factory, Minister of Trade and Industry, Hon. Alan John Kyeremanten, lauded management and staff of the company for their significant investment and development in the country.
He said, “There can be no better testimony with what we are seeking to achieve with the 1D1F than what we seeing here today.”
The Minister, was however pleased with the company’s potential of employing about 10,000 direct and indirect jobs in Ghana.
Mr. Alan Kyeremanten, therefore disclosed government’s continuous support and protection of investments of foreigners in Ghana.
Meanwhile, he said, all 1D1F companies enjoy five years tax holidays in the country.
The $80 million steel and iron manufacturing factory is owned by B5 Plus Limited, a steel manufacturing giant in West Africa and Ghana.
On his part, the Chairman of B5 Plus, Mukesh Thakwani, said, they believe in delivering the best of products and services onto the market,
According to him, B5 Plus started in 2002, with the importation of steel products from countries like Cote d’ Ivoire and others. But today, after a long journey of hard work and commitment, the company has become a net exporter to most countries in West Africa.
He disclosed that, “Just two decades back, B5 Plus used to import from it’s neighboring countries but it is now the biggest in West Africa.”
Adding that, the company is situated on 400 acres of land with pre-fabrications, and has won several awards locally and internationally for service excellence.
Admittedly, he said, President Akufo-Addo’s flagship 1D1F is one of the most ambitious projects one can talk of. Adding that, “Ghana is really a star of African continent.” He however, indicated B5 Plus’ believe in Ghana and in Made-In-Ghana.
The Chief Executive Officer of Ghana Investment Promotion Center (GIPC), Mr. Yofi Grant, also commended B5 Plus, by saying, “B5 Plus is as much a Ghanaian company as it is an Indian company.”
He emphasized that, “Foreign Direct Investment is good especially when it partners indigenes to develop.”
Mr. Grant, therefore, encouraged residents to support the operations of the company for Ghana’s economic transformation.
The phase one of the projects occupies a 100 acres of land, and envisages to provide about 3,000 direct jobs and save Ghana some $100 million annually in foreign exchange.
Meanwhile, about 1,200 workers are already engaged on-site daily by the company, as it looks forward to provide more direct and indirect jobs in Ghana.