INDUSTRIALIZATION IS THE KEY TO GHANA’S ECONOMIC TRANSFORMATION –ALAN KYEREMATEN
The Minister of Trade and Industry, Hon. Alan Kyerematen, has re-iterated the commitment of Government towards transforming the country’s economy through a rapid industrialization process. He has also re-affirmed government’s belief that the private sector is the back-bone to driving this process.
Hon Alan Kyerematen made these remarks when he paid a working visit to the Dawa Industrial City – a 2,000-acre industrial park being developed by LMI Holdings, a private Ghanaian company with business interests in land and estate development, utilities, warehousing and logistics, and construction. Dawa Industrial City is located off the Tema – Aflao highway, about 45 km from Tema.
He said government’s agenda for economic growth and job creation is underpinned by a programme of rapid and aggressive industrialization and value addition, especially in agro-processing and vibrant manufacturing. Mr. Kyeremanten was impressed with the start of the project and was optimistic it would stimulate economic development in the country for sustainable advancement.
The Minister was full of commendations for LMI Holdings highly for taking a strong lead in driving the industrialization process through the development of such industrial parks and the associated infrastructure and services. He assured the developers that Government is fully behind the initiative and would continue to play the necessary facilitation roles to ensure the completion of the project to help create the much needed jobs for Ghanaians.
The Hon. Minister was conducted around by Ernest Owusu-Afari, Executive Director of LMI Holdings, to inspect a number of major infrastructure projects in various stages of development. Among the facilities visited were the following:
· - A 396 MVA, 330/34.5 KV Substation being developed by Enclave Power Company, a subsidiary of LMI Holdings, to provide reliable and stable electricity supply to all companies expected to operate from the Dawa Industrial City. When completed, the substation will be the largest single substation in Ghana and the only one of its size to be constructed without government funding. Work is far advanced on this project and Phase 1 (to deliver 132 MVA of electricity) is expected to be completed and commissioned by end of May 2018.
· - A Railway Sleeper Plant, set up to manufacture sleepers for the railway industry. This plant is the only one of its kind in the West Africa sub-region and has enough capacity to meet Ghana’s railway development needs and to produce even for other countries in the sub-region. The plant was commissioned in 2017.
· - An ultra-modern concrete products factory producing high-quality cement and pavement blocks, as well as pipe culverts of various sizes for the construction industry.
· - An asphalt plant producing high-quality asphalt for road construction.
Mr. Owusu-Afari explained that LMI Holdings is developing a world class industrial park with asphalt roads, underground drainage, electricity and water delivered to the doorsteps of tenants in the Industrial Zone. He also added that a network of broadband fiber-optic cables is being installed in the enclave to provide high speed data to tenants. Furthermore, reliable high-quality electricity will be distributed by Enclave Power Company.
Mr. Owusu-Afari thanked the Minister for the support and encouragement that the project has received from his office and pledged the commitment of LMI Holdings to support Government in its economic transformation agenda.
Already, a number of tenants have acquired land within the industrial park and commenced construction work in earnest on their various factories and plants. The Hon. Minister visited the site of one such tenant Golden Milan, a Chinese company setting up an Aluminium Fabrication facility.