Komenda Sugar Factory: Parliament unaware of plans to lease company – Ranking on Trade & Industry C’ttee
In 2016, the previous NDC government secured a $35 million loan from the Indian Export-Import Bank, followed by an additional $24 million investment to revamp the operations of the factory.
Ranking Member on Parliament’s Trade and Industry Committee, Yusif Sulemana, has disclosed that the Committee is not aware of government’s intention to lease the Komenda Sugar Factory to a private investor.
During a working visit to the site Thursday, August 01, 2024, sector Minister, Kobina Tahir (K.T.) Hammond, disclosed that government was going to lease the company to Indian-based firm, West Africa Agro Limited, for 15 to 20 years.
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The Komenda Sugar Development Company Limited, also known as the Komenda Sugar Factory, was established in 1964 but halted operations for an extended period.
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In 2016, the previous NDC government secured a $35 million loan from the Indian Export-Import Bank, followed by an additional $24 million investment to revamp the operations of the factory.
The Minister’s revelation followed the National Democratic Congress’ flag bearer’s promise to the Central Regional House of Chiefs of his intentions to revive the company if re-elected.
The government claimed the move aims to revive the company’s operations to meet domestic demand. The factory is currently undergoing a test run in preparation for full production.
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Despite investments from the Indian Export-Import Bank and the previous NDC government, the factory has yet to achieve its objectives.
But in an interview with Accra-based Citi FM Friday, August 02, 2024, the Bole Bamboi Member of Parliament disclosed that the Committee has not been informed of the decision, indicating their intention to summon the Minister who is also the Member of Parliament for Adansi Asokwa to appear before the House to answer questions.
He, has, however, disclosed that he will soon release a statement to question the Minister since the House is currently on recess.
He emphasised that the Komenda Sugar Factory’s objectives have not been met under the current government, and Parliament must be informed of any decisions regarding its operations.
Source:onuaonline.com
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