Steel and iron manufacturing giant, B5 Plus Limited, has commenced the construction of what is to be the biggest metal manufacturing factory in Ghana.
The over $80 million project for which a sod was cut on Wednesday, September 12, 2018, forms part of the government’s One District One Factory (1D1F) flagship programme.
The factory, located within Ningo-Prampram District of the Greater Accra Region, is expected to produce different qualities of metal and steel products.
When completed, the mega factory will have the capacity to serve the Ghana & West African sub-region.
The factory is expected to be well positioned to produce various steel products some of which are currently being imported into the country.
It is envisaged that the factory will save Ghana some $100 million in foreign exchange in its first year, with the figure increasing in the subsequent years.
The company, to be built on 377 acres of land is to create about 3,000 direct & indirect jobs and give business opportunities for several retailers.
By December 2018, B5 Plus Limited will begin rolling out the project and latest by 2nd quarter of 2019, the entire factory will be fully operational.
Chief Executive (DCE), for the company to prioritize them for employment opportunities when the factory is completed.
Ghana’s Deputy Minister of Trade and Industry, Carlos Kingsley Ahenkora, in a keynote address at the colorful sod-cutting ceremony, thanked the management of B5 Plus Limited for undertaking such a noble project.
He was emphatic that the factory is going to bring along significant economic development and job opportunities for the teeming unemployed youth, especially those around the Ningo-Prampram township.
As part of efforts to contribute to the success of the factory, he said, the Ministry of Trade was in talks with the management of B5 Plus Limited and other relevant institutions and ministries for the provision of water and 100 megawatts of electricity to the company pointing out that communities around the factory will also benefit from the supply.
He outlined government’s objectives for introducing the 1D1F policy as job creation, import substitution, control of rural-urban drift, poverty reduction, and noted that the mega factory being put up by B5 Plus fits perfectly into the President’s agenda.
He expressed the belief that if B5 Plus was even able to produce 150,000 metric tons of steel annually from the factory, it will contribute significantly to the reduction of Ghana’s import costs.
Commenting on the progress being made by the government about the 1D1F, he assured Ghanaians that by the end of the four-year tenure of the NPP administration, the policy is going to see a major facelift.