The
Indian government, through the EXIM Bank of India, last year agreed to grant a
loan of US$35 million to Ghana to fund the construction of a new sugar factory
at Komenda in the Central Region of Ghana.
The
project, which is expected to create around 400 jobs as well as benefiting more
than 2,000 farmers, is due to commence in July.
Rakinder
Bhagat, the Indian High Commissioner to Ghana, during a visit to Trade and
Industry Minister Haruna Iddrisu in Accra recently said that an initial 30% of
the funds would be released as soon as the contract is finalized. Mr. Bhagat
said that India was committed to strengthening bilateral relations with Ghana.
According
to Mr. Iddrisu, plans are also being made to establish another sugar factory in
the Northern region of Ghana. Industrialization,
he said, is key to economic growth and therefore appealed to more Indian-based
manufacturing companies to invest in
Ghana.
“We are looking forward to more agro-based industries investing in Ghana, particularly the manufacturing sector”, Mr Iddrisu stressed.
“We are looking forward to more agro-based industries investing in Ghana, particularly the manufacturing sector”, Mr Iddrisu stressed.
Bank to Invest in Ghana for Hospital Expansion
The EXIM
Bank has also agreed a loan to Ghana of more than US$155 to fund the expansion
of the Ridge Hospital Complex, which serves as the primary medical facility for
the Greater Accra region, an area that has seen its population multiply almost
3 times in the last decade.
Chairman
and President of EXIM Bank Fred P. Hochberg said the bank is committed to
supporting Africa and that “the transaction will ensure Ghana can provide
better healthcare to its people”.
Americaribe
Inc. of Miami, Florida, will export the goods and services required in the
project. The company has already created Americaribe Ghana Ltd., a company
registered in Ghana and 100% owned by Americaribe Inc., to execute the job.
German Cement Company to Invest in Ghana
This
month, German based Heidelberg Cement announced its intention to invest in Ghana further by expanding its
cement output. The company will invest $30 million to build a new silo and new
cement bag packing and dispatch facilities at its grinding plant in the port
city of Takoradi in the Western Region of Ghana. The new mill will complement
the company’s plant in Tema some 25 km east of the capital city of Accra, which
was inaugurated in 2012.
