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Sunday, December 5, 2021

GHACEM to invest US$100 million new factory in Kumasi

Managing Director of GHACEM, Stefano GalliniManaging Director of GHACEM, Stefano Gallini

• GHACEM has revealed plans to expand to the Ashanti Region

• With a 1.5-million-ton capacity cement production plant, the facility is expected to create more jobs for the youth

• The company has factories in Tema and Takoradi

Leading cement manufacturer, GHACEM, is putting in measures to cut sod for the construction of a 1.5-million-ton capacity cement production plant in Kumasi.

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The company is expected to serve the Ashanti Region and its surrounding areas “with future plans of exporting to Burkina Faso and other neighboring countries.”

The Managing Director, Stefano Gallini, making the disclosure in a press release copied to GhanaWeb noted that the new project had become necessary as a result of the growing demand for cement in the region.

“We want to continue taking care of the Ghanaian market and as you may be aware, there has been an exponential growth in commercial activities in which GHACEM has been involved, and we want to continue with our contribution for the nation’s development in this regard,” Stefano Gallini stated.

The 1.5-million-ton capacity is expected to create more employment for Ghanaians.

Meanwhile, the Tema and Takoradi factories will also be expanded to improve efficiency and timely delivery of products.

Read the statement below:

Ghacem, the nation’s leading cement manufacturer, will in the coming weeks, cut sod for the construction of a 1.5-million-ton capacity cement production plant in Kumasi to serve the Ashanti Region and its surrounding areas.

Speaking in an interview with the media, the Managing Director of GHACEM, Stefano Gallini, said the new project had become necessary due to the growing demand for cement in that part of the country.

Additionally, the Tema and Takoradi factories will be expanded to improve efficiency and timely delivery of products.

Mr. Gallini observed that “the Ghanaian construction sector growth is the driving force behind this agenda and our Ghanaian customers are at the center of this”.

He further noted that “we want to continue taking care of the Ghanaian market and as you may be aware, there has been an exponential growth in commercial activities in which GHACEM has been involved, and we want to continue with our contribution for the nation’s development in this regard.”

The new plant will produce about 1.5 million tons of cement per annum to serve the Ashanti Region, together with future plans of exporting to Burkina Faso and other neighboring countries.

The $100 million investment by the company is expected to increase employment opportunities for the cement industry, as many more projects are being undertaken.

Commenting on the prices of cement products, the Managing Director explained that the company will adjust the price of its cement products if the cost of raw materials and freight witness a reduction in the coming weeks.

He indicated that the recent hike in cement prices was as a result of the high costs incurred during production and increasing freight costs.

“We have been exposed to rising costs of raw materials, freight and other components in the production of our cement products for the past seven to eight months, such that we have to take care of it in order not to pass it over to the consumer, looking at the economic situation. However, we commit to adjusting the price downwards if the cost of freight is reduced. For us, other raw materials can be sourced at lower prices,” he noted.

He further assured that engagements are ongoing with the Ghana Port and Harbours Authority to address some concerns with port handling charges, which also add on to the cost of production of the company.

Mr. Gallini explained that about 99.5% of Ghacem employees are Ghanaian, and this goes a long way to benefit the country. Ghacem pays taxes to support the Ghanaian economy, and also reinvests some of her profits to various causes in Ghana.

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