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General News of Tuesday, 23 July 2019

Source: GNA

President cuts sod for second phase of Tile factory in Shama

The President, Nana Addo Dankwa Akufo-Addo on Tuesday cut the sod for the commencement of the second phase of the Twyford Ghana ceramics company limited, which is expected to create jobs for thousands of people within the Shama District of the Western Region.

The Business, owned by a Chinese group, KEDA, started last year and so far an estimated 77.7 million dollars had been committed into the company, including the second phase to be completed in September.

President Akufo-Addo pointed out that Ghana was determined to add value to its raw materials as the country moved from raw material supply state to value added economy, which was the crust of economic and industrial developments.

He said last year alone, Ghana spent 12 billion dollars on imports, which include the importation of tiles and ceramic products.

"The citing of this tiles manufacturing factory therefore comes as a great relief to the drift of foreign exchange, empower local economy, raise the living standard of the people and ultimately help in the government's vision of an independent country beyond aid".

President Akufo Addo said, "We are working hard to change the nature of our economy...the Twyford example is a significant point in reducing importation and a key measure of our industrialization agenda".

"I will continue to hold on to my irrevocable commitment to a new Ghana where many of the things we need can be done here to develop our economy and address living standards of the people ".

The President, giving credence to the long lasting relationship between Ghana and China, said, "I commend the Chinese group for such a significant investment and pledge my continual support to your operations".

Mr. Alan Kojo Kyeremanteng, Minister of trade and Industry said, government was working on unfair competition with the establishment of the Ghana International Trade Commission to curtail the problem.

He said the Twyford tiles company was a validation of the One District One Factory concept, intended to help revive economic activities across the districts in the country.

Mr. Lorry Li, the Managing Director of Twyford Company said, the expansion was a testament to the friendly business environment created by the government.

He said the company was bent on helping the government to realize a sustainable economy and urged government to reduce energy cost and protect local manufacturers.