Twyford Ceramics factory, a newly established tile manufacturing company, on Saturday received the endorsement of Nana Akufo-Addo at Shama district in the Western Region.
The factory, which is into the production and distribution of tiles, is estimated at the cost of $77.26 million and will operate at a designed production capacity of 14.4 million square meters per year with annual sales projected to be $82.8 million.
Speaking before the commissioning, President Akufo-Addo praised the investors for putting up the factory.
“I congratulate the chairperson, board, management and directors of Sunda International for the decision to establish the factory here in Shama. It will not only reduce our country’s ceramic tiles import bill but will also create employment for the young men and women resident here,” the President said.The President praised the company for sourcing all its raw materials locally and providing employment for the teeming youth in the area.
“I am also happy to note that 95% of the factory’s raw material needs will be sourced locally. The promoters of this project should work towards increasing this figure to a 100%,” the President said.
The President urged Twyford Ceramics to play by the rules of the industry and assured the company of his open door policy to resolve any challenge that may arise in the course of their operations.
“The experienced Minister for Trades and industry will work with you to address any challenges that may arise, and if indeed it becomes necessary, which I hope it will not, to go higher up the chain of authority, I want you to know that my doors will always be open. I do on the other hand insist, that on your part, that you play according to the rules and regulations of the sector and the laws of the country as a whole” he said.
Group chairman of Sunda international Mr Y.C Shen announced that Twyford ceramics was set up in Ghana because of the enabling business environment created by the government through the one district one factory program for which they have taken advantage to do business in Ghana.
“Industrialisation is the main driver of every economy all over the world. As Ghana is trying to industrialise, we at Twyford ceramics factory are happy to be a part of the new industrialisation policy of this new government,” he said.
He announced that an estimated (1,864 jobs have been created for Ghanaians by the new ceramics factory. And he called for government support for smooth operations of their business.
“Considering all the benefits of the project to the government and people of Ghana, we at Twyford ceramics factory are asking for all the support that we can get from the government to ensure a smooth operation for the benefit of all.”.
Mr Y.C Shen lauded government of Ghana for the one district one factory policy which he said had been introduced in China several years ago.
‘’Your government’s policy of ‘one district, one factory’ encourages investors to set up a factory in every district of Ghana which we believe is the best idea to move Ghana’s development forward and fast.
“Forty years ago, China was not more developed than Ghana today. The then Chinese government made a similar policy of rural industrialisation and the results are what we see in developed China today,” Mr Shen said.
The group chairman also disclosed that Twyford ceramics factory’s designed production capacity is 14.4 million square meters per year with the sales amount estimated to be $82.8 million.
This will, therefore, reduce importation of tiles into Ghana from a whopping USD 90.66 million to a mere $7.86 million per year with a further potential to dramatically reduce the demand on foreign currency and therefore stabilising the local currency.
Source: 3news.com | Ghana