President Akufo-Addo laying the foundation stone for the new factory
President Nana Akufo-Addo has debunked allegations of unfair trade practices leveled against foreign companies by some indigenous producers in the country’s cement industry.
Laying the foundation stone for work to commence on the construction of a new cement grinding factory within the Tema Freezones enclave on Tuesday, the President noted: “As the latest entrant to the sector and supported, as you are, by Lafarge-Holcim, the world’s leading cement manufacturer, we expect CBI to bring the latest advanced cement grinding technology to Ghana.”
“I look forward to the construction of what we expect to be a state-of-the-art cement grinding factory to diversify the sector, promote healthy competition and improve product standards,” he added.
He said his administration would continue to ensure that the sector gets the regulatory support and the business-friendly environment in order to thrive.
The $55 million factory is being built by CBI, a subsidiary of Lafarge-Holcim, a leading global cement manufacturer with presence in about 90 countries worldwide.
When completed, the factory is expected to provide cement to thousands of individuals and organizations in Ghana under the brand name Supercem.
Indicating that cement manufacturing formed the backbone of infrastructure development, which contribute about a quarter of Ghana’s GDP, he observed that the consumption of cement would increase by leaps and bounds, as his administration deals with growing urbanization, huge deficit in the housing sector and anticipated rise in government and private sector infrastructure development projects.
Staff treatment
He urged directors and managers of the company to treat their employees with dignity, saying that CBI Ghana “will be a responsible employer that treats your employees with dignity and pays maximum attention to their health and safety needs and the environmental impact of the factory.”
Economic role
Ernest Mintah, Executive Director of CBI Ghana Limited, said the Supercem brand would cater for the needs of diverse organizations and individuals in the fields of construction, real estate development and at the household level.
The factory is expected to provide an estimated 400 direct jobs and numerous indirect jobs for the masses in its initial years, stressing that the company would adopt advanced technologies to provide the best premium cement product on the Ghanaian market.
BY Melvin Tarlue