The Deputy Minister for Trade and Industry, Hon Carlos Kingsley Ahenkorah, has cut the sod for the construction of a steel manufacturing plant under the One District One Factory (1D1F) Initiative.
In line with Government’s public-private partnership module of ensuring economic stability and reducing pressure on government funds, construction of the new steel manufacturing plant will be fully funded by one of the country's long existing steel companies in the country, B5Plus with government facilitating it.
Government’s support for the project is in the area of provision of incentives to companies operating under the 1D1F initiative.
According to Hon Ahenkorah, completion of the project will help save the country a lot of forex as the country imports between 200,000 to 300,000 metric tones of steel annually.
The project when completed is expected to provide over 3,000 jobs for the country’s youth. This will shore up the already 3,000 people currently employed by the steel manufacturing company B5Plus Limited. The project when completed and made operational will also significantly help improve the country’s export revenue.
Present at the function were Hon Barbara Oteng Gyasi, Deputy Minister for Lands and Natural Resources, the Indian High Commissioner to Ghana, Mr. Brender Singh Yadav and Mr. Mike Thakwani, the Chief Executive Officer of B5PlusLimited.