The Deputy Minister of Trade and Industry, Mr Carlos Ahenkorah has cut sod for the construction of a steel factory at Lokpleku Village near Ningo in the the Greater Accra Region.
The factory which is fully owned by a private firm (B5 PLUS Limited) when completed will directly employ 5000 workers which help reduce the unemployment among the youth in the Tema district.
Speaking at the event, Mr Carlos Ahenkorah outlined government commitment in creating nibbling environment for the private sector to help government execute it’s flagship programme 1D1F.
The deputy minister is of the view that the construction of the steel factory will help address rural poverty facing this country and also take a lot of burden from government in finding dollars to import steel into the country.
Mr Ahenkorah called on the Chiefs and the district assembly of the area to anything possible within the power to make sure the factory get into its full operation.
“By the end of our first term into office if not all the 216 district a lot will have a factory ” he quizzed.
On her part, Mrs Barbra Oteng Gyesi, Deputy Minister of Lands and Natural Resources thanked B5 PLUS Limited for initiative in constructing of a steel factory in Ghana Ningo to be precise which will also help increase the economic activities of the area.
She also seized the opportunity call on the private sector to emulate B5 PLUS Limited in different areas of industrialization which one of the 10 points translation agenda of NPP government.
On his part,Chief Executive Officer of B5 PLUS Limited,one of the largest tax payers in the country hinted that the factory after completion in March next year will save Ghana 100 million US Dollars in its first year of operation.
According to him, the factory which will be the biggest steel factory in Ghana will not only provide steel structures in Ghana rather, Africa as a whole.
He added that government led by the president Nana Addo Dankwa Akufo-Addo must do well to deal with land litigation issues so that Ghana will become attractive to foreign investors who wants to invest in the Ghanaian economy.