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By Christopher Arko, GNA
Accra, April 4, GNA – Allan Kwadwo Kyeremanteng, Minister of Finance
Trade and Industry, announced that the process of attracting a new strategy of
the investor for the Komenda Sugar Plant has been finalized.
Accordingly, a recommendation by the transaction advisor to the
The department and Cabinet were reviewed and the final decision
would be taken by the end of April 2019.
Mr. Kyeremanteng made this statement in response to a question from Dr.
Samuel Atta-Mills, MP for Komenda / Edina / Eguafo / Abrem,
when he appeared before Parliament.
Dr. Atta-Mills wanted to know why Komenda's candy was closed
down.
Mr. Kyeremanteng also explained that the previous government, at the end
2016, proceeded to a process of transfer of its majority shares to a private company
investor.
However, the process was interrupted due to the failure of the identified procedure.
the investor to fulfill the obligations arising from the contract of sale and purchase.
He said the Ministry, in order to put the factory to viability
commercial production, decided to launch a new process, in collaboration with
transaction advisor, PriceWaterhouseCoopers, to attract a
the investor to acquire the badets of the Komenda Sugar Factory and to manage its
operations.
Mr. Kyeremanteng said that the factory after its commissioning by the
The previous government, on May 31, 2016, remained inactive due to deficiencies in the
project planning and other financial, technical and legal challenges.
He said that in September 2017, the ministry had commissioned a technical audit
from the factory to verify its technical and operational status.
Mr. Kyeremanteng said that the conclusions of the technical audit showed that one
The test was never completed prior to the commissioning of the plant because of the
sufficient unavailability of cane sugar for the test.
He said that the factory, when put into service, was not able to produce
refined white sugar required due to lack of processing
components such as melting clarification units, vertical crystallizers
and dosing system.
He said that in all, about 35 items had not been installed during commissioning.
although they are essential for the production of sulfur-free white sugar.
Mr. Kyeremanteng also explained that the size of the land available for the
sugar cane was a lot less than the 6,000 acres needed to power the plant to
run at full capacity.
He added that there was no outsourcing system developed for small
farmers to support a planting of cores for the plant.
He said largely that the state of the soil in the watersheds of the plant was
not favorable and required a significant application of biological and
inorganic fertilizers to improve the yield.
GNA
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