{"id":605103,"date":"2019-04-04T20:33:53","date_gmt":"2019-04-04T20:33:53","guid":{"rendered":"<br><div>\n<p class=\"floatLeft\">Business News of Thursday,  4 April 2019<\/p>\n<p class=\"floatRight\"><strong>Source: <\/strong>citinewsroom.com<\/p>\n2019-04-04\n\n<div class=\"article-left\">\n<p class=\"article-image\"><img src=\"https:\/\/cdn.ghana-mma.com\/2019\/04\/373"},"modified":"2019-04-04T20:33:53","modified_gmt":"2019-04-04T20:33:53","slug":"new-investor-for-komenda-sugar-factory-to-be-named-by-end-of-april-alan-kyerematen","status":"publish","type":"post","link":"https:\/\/www.ghanamma.com\/2019\/04\/04\/new-investor-for-komenda-sugar-factory-to-be-named-by-end-of-april-alan-kyerematen\/","title":{"rendered":"New investor for Komenda Sugar factory to be named by end of April \u2013 Alan Kyerematen"},"content":{"rendered":"<p><\/p>\n<div>\n<p class=\"floatLeft\">Business News of Thursday,  4 April 2019<\/p>\n<p class=\"floatRight\"><strong>Source: <\/strong>citinewsroom.com<\/p>\n<p>2019-04-04<\/p>\n<div class=\"article-left\">\n<p class=\"article-image\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/cdn.ghanamma.com\/2019\/04\/37316108.295.jpg\" alt=\"Kyerematen Alan1\" title=\"Kyerematen Alan1\" width=\"295\" height=\"164\" \/><span class=\"play-icon\">play video<\/span><span class=\"image_caption\"><span>Trade and Industry Minister, Alan Kyerematen<\/span><\/span><\/p>\n<\/div>\n<p style=\"clear:right\">Trade and Industry Minister, Alan Kyerematen has told Parliament a strategic investor to take over the running of the Komenda Sugar Factory will be announced by the end of this month, April 2019.<\/p>\n<p>According to him, government has conducted a technical audit into what caused the shutdown of the factory months after it was inaugurated in a bid to create the right conditions for it to be revived.<\/p>\n<p>Answering questions in Parliament on Thursday, Alan Kyerematen said the quest to bring the factory back to life is on course.<\/p>\n<p>\u201cThe Ministry in an effort to put the factory in production decided to initiate a new process in consultation with the transaction advisers to attract another strategic investor to acquire the assets of the Komenda Sugar Factory. I envisage that the final decision in respect with this matter will be taken by end of April.\u201d<\/p>\n<p>President Nana Akufo-Addo recently said government is currently scouting for a strategic investor to inject life into the struggling Komenda Sugar factory.<\/p>\n<p>While lamenting the lack of proper planning in the implementation of the project by the Mahama administration, President Akufo-Addo gave assurances of ensuring that the factory becomes viable.<\/p>\n<p>\u201cThe previous plan that established is not the best. Those who started it could not complete it, and that is why we came to meet staggering dent and an idle factory.\u201d<br \/>&#13;<br \/>\n\u201cThe Minister of Trade and Industry is looking for a strategic investor to come and invest here. We are still searching for one because the initial plans were not the best. It is now we are coming to organize things,\u201d President Akufo-Addo.\u201d<\/p>\n<p>The $35 million factory remains dormant, due to a lack of funds.<\/p>\n<p>It was closed down in June 2016, barely a month after then-President John Mahama commissioned it.<\/p>\n<p>It was expected to be producing about 1,250 tonnes of sugar each day.<\/p>\n<p>The factory, at its full capacity, can, in a year, produce 97% of the nation\u2019s sugar needs, representing 250,000 tons.<\/p>\n<p>Following the closure, the factory had to sell sugarcane at its 125-acre seedling plantation to distillers of the local alcoholic beverage popularly known as \u2018akpeteshie.\u2019<\/p>\n<p>Sugarcane farmers who had hopes of cultivating of supplying the Komenda Sugar factory have also been compelled to sell to producers of akpeteshie.<\/p>\n<\/div>\n<p>\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<a style=\"display:none\" rel=\"follow\" href=\"http:\/\/megatheme.ir\/\" title=\"\u0642\u0627\u0644\u0628 \u0648\u0631\u062f\u067e\u0631\u0633\">\u0642\u0627\u0644\u0628 \u0648\u0631\u062f\u067e\u0631\u0633<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Business News of Thursday, 4 April 2019 Source: citinewsroom.com 2019-04-04 play videoTrade and Industry Minister, Alan Kyerematen Trade and Industry Minister, Alan Kyerematen has told Parliament a strategic investor to take over the running of the Komenda Sugar Factory will be announced by the end of this month, April 2019. According to him, government has [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":605104,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-605103","post","type-post","status-publish","format-standard","has-post-thumbnail","category-local-news"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.5 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>New investor for Komenda Sugar factory to be named by end of April \u2013 Alan Kyerematen - Ghanamma.com<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.ghanamma.com\/2019\/04\/04\/new-investor-for-komenda-sugar-factory-to-be-named-by-end-of-april-alan-kyerematen\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"New investor for Komenda Sugar factory to be named by end of April \u2013 Alan Kyerematen - Ghanamma.com\" \/>\n<meta name=\"twitter:description\" content=\"Business News of Thursday, 4 April 2019 Source: citinewsroom.com 2019-04-04 play videoTrade and Industry Minister, Alan Kyerematen Trade and Industry Minister, Alan Kyerematen has told Parliament a strategic investor to take over the running of the Komenda Sugar Factory will be announced by the end of this month, April 2019. According to him, government has [&hellip;]\" \/>\n<meta name=\"twitter:creator\" content=\"@ghanamma\" \/>\n<meta name=\"twitter:site\" content=\"@ghanamma\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Ghana News\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.ghanamma.com\\\/2019\\\/04\\\/04\\\/new-investor-for-komenda-sugar-factory-to-be-named-by-end-of-april-alan-kyerematen\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.ghanamma.com\\\/2019\\\/04\\\/04\\\/new-investor-for-komenda-sugar-factory-to-be-named-by-end-of-april-alan-kyerematen\\\/\"},\"author\":{\"name\":\"Ghana News\",\"@id\":\"https:\\\/\\\/www.ghanamma.com\\\/2019\\\/#\\\/schema\\\/person\\\/53d06a757a4242f113d200e3c290c036\"},\"headline\":\"New investor for Komenda Sugar factory to be named by end of April \u2013 Alan Kyerematen\",\"datePublished\":\"2019-04-04T20:33:53+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.ghanamma.com\\\/2019\\\/04\\\/04\\\/new-investor-for-komenda-sugar-factory-to-be-named-by-end-of-april-alan-kyerematen\\\/\"},\"wordCount\":404,\"commentCount\":0,\"image\":{\"@id\":\"https:\\\/\\\/www.ghanamma.com\\\/2019\\\/04\\\/04\\\/new-investor-for-komenda-sugar-factory-to-be-named-by-end-of-april-alan-kyerematen\\\/#primaryimage\"},\"thumbnailUrl\":\"\",\"articleSection\":[\"Local News\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\\\/\\\/www.ghanamma.com\\\/2019\\\/04\\\/04\\\/new-investor-for-komenda-sugar-factory-to-be-named-by-end-of-april-alan-kyerematen\\\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.ghanamma.com\\\/2019\\\/04\\\/04\\\/new-investor-for-komenda-sugar-factory-to-be-named-by-end-of-april-alan-kyerematen\\\/\",\"url\":\"https:\\\/\\\/www.ghanamma.com\\\/2019\\\/04\\\/04\\\/new-investor-for-komenda-sugar-factory-to-be-named-by-end-of-april-alan-kyerematen\\\/\",\"name\":\"New investor for Komenda Sugar factory to be named by end of April \u2013 Alan Kyerematen - 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