Investors Rush For Sugar Business In Ghana Minister

As the country prepares to become a hub for domestic consumption and a potential exporter of sugar, investors from other countries, especially, Japan have shown more interest of establishing sugar estates and sugar plantation in Ghana to boost the Ghanaian economy.

Speaking to the Daily Heritage shortly after a stakeholder consultative forum on sugar policy at Elmina organized by the Ministry of Trade and Industry, the Deputy Minister for Trade and Industry, Kweku Ricketts Hagan lauded President John Dramani Mahama’s marvelous initiative for the construction of Komenda Sugar Factory.

Mr. Hagan said sugarcane growing requires significant plots of land for both sugar estates and out-growers to meet the demand of sugar mills and expressed concern about land acquisitions that are the principal constraints delaying large scale investment in the growing of sugarcane in the country.

He was impressed with the on-going Komenda sugar factory project to ensure the maximum welfare, freedom and happiness of every person in the country to provide adequate means of livelihood and suitable employment as well as public assistance to the needy.

Mr. Hagan said $36 million worth factory when completed would have the capacity to crush 1,250 tonnes of sugarcane a day to produce 125 tonnes of Sulphurless white sugar.

He hinted that the Indian government had also approved $25 million fund for the cultivation of sugar and called on people in the Central Region, especially, those in the catchment area of the sugar factory to engage in sugarcane plantation to assist the sugar factory.

Mr. Hagan observed that the over 300 metric tonnes of sugar exported in the country cost the government over $200 million and called on the public to join hands to rally behind President Mahama’s dreams to create a manufacturing economy in the country.

He said considering the expertise available in sugar production, the government intended to engage an operations and management company as an equity partner to manage the complex after completion.

Mr. Hagan gave the assurance that government would work around the clock to protect the factory from negative activities of foreign cartels.