Vice President cuts sod for new $30million cement factory

General News of Wednesday, 15 November 2017



Bawumia SodBawumia was optimistic that there would be many mutually beneficial co-operation for both countries

Vice-President Dr Mahamudu Bawumia yesterday cut the sod for the construction of a $30million cement factory at the Dawa Industrial Enclave on the Tema-Aflao road.

The Ilam cement factory, a joint venture between Ghana and Iran, is expected to be completed in two years.

Iran owns 90 per cent shares whilst Ghana wields 10 per cent stakeholding in the project that is expected to produce some 600,000 tonnes of premium cement a year when completed.

The ceremony for the construction of the factory follows the signing of a Memorandum of Understanding (MoU) between Ghana and Iran, when the Vice-President visited that country earlier in the year on the sidelines of the inauguration of Iranian President Hassan Rouhani.

Dr Bawumia said the project, which reflects the economic dimension of the relations between Iran and Ghana, would boost the nation’s infrastructural drive, create jobs and further make the price of cement competitive.

He assured that government would create the enabling environment for business growth to boost the economic outlook of Ghana.

Dr Bawumia was optimistic that there would be many more mutually beneficial co-operation between Ghana and Iran.

The Iranian Agricultural Minister, Mahmoud Hojjati, who joined the Vice-President to perform the commissioning, was optimistic that the project would boost the bilateral ties between his country and Ghana.

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