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Business News of Monday, 2 March 2020

Source: Ghanaian Times

25 million Euro rubber processing factory opens

The Ghana Rubber Estates Limited (GREL) has opened a second rubber processing factory at Tsibu near Abura in the Ahanta West Municipality of the Western Region.

The 25-million Euro project constructed within a year, has the capacity to add value to about 75 per cent of raw rubber produced by GREL for shipment to various clients within the supply chain globally.

The Vice President, Dr Mahamudu Bawumia in a speech read on his behalf at the opening said Ghana must not continue to export raw resources because the exportation of raw materials meant it would get less revenue.

The speech read by the Western Regional Minister, Mr Kwabena Okyere Darko-Mensah said the government wanted the private sector to operate in a predictable, stable business environment that would allow it to invest, expand and be profitable.

He said that was a way to creating jobs and opening opportunities for Ghanaians.

He said GREL’s application for the factory to be included in the One District One Factory Programme had been approved by the Ministry of Trade and Industry.

The Vice President advised the communities against encroachment on the 15, 000 hectares state land leased to GREL by the government.

Mr Robert Ahomka Lindsay, the Deputy Minister of Trade and Industry said the new industrial transformation agenda by the ministry was to ensure that value was added to the many raw materials the country produced.

“I am therefore happy to see an Ivorian investment in Ghana and vice versa especially since Ghana was hosting the continental free trade that enjoined the 54 African countries to trade among themselves in increasing growth among countries”.

He therefore urged the chiefs and people to support the company in creating wealth, jobs and ensuring economic empowerment of the local communities.

The SIFCA Administrator, Mr Jean Louis Billon said SIFCA, the mother company of GREL, was a major player in the Agro-Industry of West Africa.

He said SIFCA was a private Ivorian group founded in 1964 and operated throughout the value chain growth in the exploitation, processing and marketing of oil palm, natural rubber and sugar cane.

He said the company had about 32,000 employees at the group level including 4,000 at GREL in Ghana. He said the SIFCA group had subsidiaries in six countries, Ghana, Liberia, Senegal, Nigeria, France and Cote d’Iviore.

The SIFCA Administrator said GREL for the past one and a half years had been undertaking feasibility studies for the use of solar energy in running the factories, adding that this might materialise soon.

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