Business News of Wednesday, 24 July 2019

Source: classfmonline.com

Akufo-Addo opens Ghana Gas Headquarters

The office complex is expected to deliver first-class gas operations The office complex is expected to deliver first-class gas operations

President Nana Addo Dankwa Akufo-Addo, on Tuesday, 23 July 2019, opened a state-of-the-art Operational Office Complex of Ghana National Gas Company.

The office complex is expected to deliver first-class gas operations and support services for the country’s gas sector while, at the same time, accommodating the women and men of the company who work to ensure reliable and sustainable gas supply for power generation.

While commending the Board and Management of Ghana Gas for overseeing the project, President Akufo-Addo also applauded the company for the numerous development projects it is undertaking in the Western Region, including the 10.5-km asphalt road from Alla-Bokazo to Anokyi.

With major reconstruction activities being undertaken on the Nkroful road, the President noted that similar road projects have either been completed or were at various stages of completion in Axim, Half Assini and Kikam.

Again, having registered some 1,350 indigenes living in Atuabo and Aboadze under the National Health Insurance Scheme; constructed an 8-seat water closet toilet facility, and a mechanised borehole in Allabokazo; constructed a 4-unit teachers’ quarters in Anokyi, a 4-unit teachers quarters in Asemnda Suazo, and an ultramodern nursery facility in the same area, President Akufo-Addo urged the company to continue in this vein, and support the communities within which they are operating.

He gave the assurance that the Ministry of Agriculture, in collaboration with Ghana National Gas Company, is currently working towards the establishment of a fertiliser plant in Jomoro. The plant will use natural gas as feedstock to produce high quality ammonia, urea and fertiliser for both local and regional markets.

Earlier in the day, President Akufo-Addo cut the sod for the second phase of expansion works of the Twyford-Keda Ghana Ceramics Company Limited, a company operating under the government’s “One District, One Factory” initiative.

Addressing the gathering, he noted that after opening the factory in January 2018, the promoters of the factory have invested some $77 million in the processing plant, which has resulted in an annual production capacity of 14.4 million square meters of tiles, and created more than 800 jobs in the Shama area.

“The operations of the company have also seen a significant reduction in the import of tiles by as much as 14%. The contribution that this company is making in the industrialisation agenda of the country and the transformation of our economy is significant,” President Akufo-Addo added.

Particularly happy about the decision of the company to source their raw materials locally, the President noted that: “Many of those things we can do here in Ghana, we intend to begin the process of doing them here in Ghana. That is the way we can develop our economy and begin to address the living standards of our people.”

With Ghana hosting the Secretariat of the African Continental Free Trade Area, President Akufo-Addo explained that the opportunity is going to be created for companies like this not only to be able to access the ECOWAS region, but the larger African continent with a market of 1.2 billion people.”

He continued, “We are not quite there with China, but Ambassador, we are on our way so that companies like this ceramics company will have the opportunity of targeting this larger market community when the Free Trade Area comes into operation next year in July.”

The President assured the Chairman of the company that institutions have been established in the country to deal with the effect of unfair competition in domestic trade industries like dumping.

“I have asked the Chairman to immediately lodge a complaint to the Ghana International Trade Commission who will then be able to make recommendations to government to address this matter. We are determined to protect local industries and domestic manufacturing, and these institutions that have been set in place are essential to doing exactly that,” he assured.