Business News of Sunday, 19 February 2012
OLAM Ghana Limited To Launch State- Of –The-Art Wheat Milling Facility In Tema
Ghana, Accra, February 19, 2012: Olam Ghana Limited, a subsidiary of Olam International Limited and one of the leading agro business companies in the country, is to set to launch a fully functional state-of-the-art Wheat Mill facility. The launch of the facility will contribute immensely to the growth of the Agric sector in the country
The ultramodern facility, valued at 55 million US Dollars will be lunched on Friday, 24th of February, at Kpone Industrial Area in Tema. The mill has eight large Silos for the storage of the wheat, two warehouses, spacious loading grounds, a lab and the factory itself and will achieve annual flour production of 115,000 metric tonnes within three years, which would make it Ghana's third largest flour mill.
According to the Country Manager of Olam Ghana Limited, Amit Agrawal, ‘the Olam way is achieved whenever we are able to add value to business. We are very much committed to making meaningful impact in the area of our business and so we are always on the lookout for opportunities to make significant difference in the industry. We believe this wheat milling facility would contribute significantly to Ghana's food security plans, create employment and generate no less than 20 million Ghana Cedis per year as government revenue through taxes and duties’.
The Global CEO of Olam International Sunny Verghese added that, “this facility marks another milestone in our lasting partnership with the country of Ghana. Wheat flour is a significant and highly demanded food component worldwide and in Ghana as well, whose demand and consumption we envisage to increase further over the next few years as incomes increase in the country’.
Dignitaries to grace the occasion include His Excellency, Professor John Evans Atta Mills, President of the Republic, Ministers of State, officials from Olam International and Olam Ghan, among others.
About Olam International
Olam International is a leading global integrated supply chain manager of agricultural products and food ingredients, sourcing 20 products with a direct presence in 64 countries and supplying them to over 12, 000 customers. Olam has built a global leadership position in many of its businesses, including cocoa, coffee, cashew, sesame, rice, cotton and wood products. Olam Ghana now has a country-wide spread in 80 towns and villages with an annual turnover in excess of USD 335 million.