President Nana Akufo-Addo has commissioned the phase one of the B5 Plus Steel Plant.
The Plant is located around Kpone in the Greater Accra Region.
President Akufo-Addo commissioned the Phase One on Tuesday, April 13, 2021.
According to him, the B5 Plus Steel Plant is “an enterprise operating under Government’s One-District-One-Factory (1D1F) initiative.”
“This plant is a concrete manifestation that the new paradigm of economic development, which this administration has been vigorously pursuing since 2017, of insisting on value-addition industrial activities within a conducive and business-friendly environment, is making headway,” he said.
It would be recalled that sod was cut on September 12, 2018, for the over $80 million project which forms part of Ghana’s 1D1F Programme.
When fully operational, the Plant will have the capacity to serve both the Ghanaian market and the West African subregion.
It is envisaged that B5 Plus Limited when in full operation, will save Ghana some $100 million in foreign exchange in its first year alone, with the figure expected to increase in subsequent years.
The Plant is situated on 377 acres of land and is expected to created about 3,000 direct and indirect jobs.
By Melvin Tarlue