The Vice President, Dr. Mahamadu Bawumia, has cut sod for the establishment of a new cement factory in Ghana.
The $30 million Ilam Cement factory will be located at Dawa Industrial City in Accra, and it is expected to be completed in two years.
The factory also falls under the Akufo-Addo administration’s One-District-One-Factory programme.
90% of the factory is however foreign-owned by Iran, whilst a Ghanaian individual owns 10% of the business.
The agreement for its construction was signed when the Dr. Bawumia visited Iran in August 2017, for the inauguration of Iranian President, Hassan Rouhani.
This factory is expected to bolster the Akufo-Addo administration’s efforts to bolster Ghana’s industrial and infrastructure development.
“To ensure the development of a country, it is necessary to have some key development tools and you would also agree with me that one of the characteristics is growing infrastructure. It is an undeniable fact that we cannot have all these beautiful buildings, factories, bridges and roads without the affordable and regular supply of cement in large quantities.”
Dr. Bawumia also said this factory “will create the needed competition in the industry to reduce the unit cost of cement for the ordinary Ghanaian.”
Cement prices currently hover between GHc 26 and GHc 29.
The Minister of Agriculture of the Islamic Republic of Iran, Hon.Mahmoud Hojjati, had earlier on Tuesday led a delegation to see Dr. Bawumia, ahead of the 6th session of the Ghana-Iran Permanent Joint Commission for Cooperation.
By: Delali Adogla-Bessa/citifmonline.com/Ghana