Shama: President John Dramani Mahama has inaugurated the construction of a $250 million float glass factory in Shama, situated in the Western Region of Ghana. The project, spearheaded by KEDA (Ghana) Ceramic Company Limited, marks a significant advancement in the nation's industrial sector. Alongside this, President Mahama also commissioned the fifth phase of the tile production line and the sanitary wares factory.
According to Ghana News Agency, President Mahama recounted his visit to China in October last year, where he met with Chinese President Xi Jinping and participated in an investment program. During the event, numerous Chinese companies with investments in Ghana were present, including Mr. Shen Yanchang, Chairman of the Twyford Group. Following the program, Mr. Shen requested a meeting with President Mahama, sharing plans to list on the Hong Kong Stock Exchange and expressing intentions to construct a glass factory in Ghana upon successful listing.
In his address, President Mahama highlighted the transformative potential of the new glass factory, noting that currently, every piece of glass in Ghana is imported. The establishment of the factory is anticipated to be a pivotal step in local glass production, reducing reliance on imports. The President expressed gratitude towards Chairman Shen for his confidence in Ghana's economic prospects.
President Mahama assured Chairman Shen of supportive government policies, referencing the recently signed 24-Hour Economy Authority Bill. He explained that factories registered under this initiative would benefit from duty and tax exemptions on capital equipment, facilitating expansion and technological upgrades.
The President emphasized that the construction of the float glass factory, along with the new sanitary ware factory and the expanded ceramic tile production line, signifies Ghana's commitment to becoming a producer and exporter rather than a consumer economy. He noted the global float glass market's valuation of approximately $60 billion annually and stressed the importance of Ghana capturing a portion of this market.
The float glass facility, with a total investment of $250 million, is poised to be one of the largest industrial investments in Ghana's history. Phase 1 of the factory is expected to have a capacity of 600 tons per day, with Phase 2 adding another 800 tons, culminating in a total capacity of 1,400 tons daily. Completion and commissioning of Phase 1 are slated for August 2026.
Trade, Industry, and Agribusiness Minister Mrs. Elizabeth Ofosu-Adjare hailed the project as a realization of efforts to attract substantial investments in Ghana's manufacturing sector. Meanwhile, Mr. Li Wei, Managing Director of KEDA Ghana, underscored the company's commitment to environmental sustainability, adhering to stringent environmental standards and adopting a zero-waste manufacturing approach.
Mr. Shen Yanchang highlighted the significance of the 24-Hour Economy Authority Bill, stating that it reflects Ghana's openness to global investors and reinforces the nation's business-friendly environment.