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Following The Failure Of A US$35 Million EXIM Bank Cash, India Has Promised To Support In The Restoration Of The Komenda Sugar Factory.

Following the failure of a US$35 million EXIM Bank cash, India has promised to support in the restoration of the Komenda Sugar Factory.

The Indian High Commissioner to Ghana, Excellency Sugandh Rajaram, said his country is doing everything possible to help Ghana revamp the Komenda Sugar Factory.

According to him, talks are currently ongoing between an indian investor and a local company with the aid of the indian government to assist Ghana to revamp the factory.

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“Recently I was told one of the local companies in the same sugar production has been engaged with an indian investor and the government is working with them to see that they become the main investors to take this on”. Indian High Commissioner His Excellency Sugandh Rajaram told Joy TV in an interview.

The Komenda Sugar Factory, which was rebuilt by the Government of Ghana at a cost of US$35 million from an Indian EXIM Bank facility, and inaugurated in May 2016 is still not functional.

Many challenges, including the unreliable supply of sugarcane, a major raw materials for continuous processing after the preliminary test run, has hampered the operations of the company rendering it a “white elephant”.

However, Mr. Sugandh Rajaram speaking in his interview noted that, his country decided to support Ghana in sugar production because they had the expertise.

“Development assistance is normally provided to the national priorities of the country which are decided by the government of the day. We see that considering the climate condition here, the expertise and the technologies that we have in India with regard to setting up agricultural activities, sugar definitely was one of the major areas to support. I think talking of its sustainability, you need a lot of things; raw materials, other suppliers, skilled labourers, technicians, and a lot of things. Recently I was told one of the Local companies in the same sugar production has been engaged with an indian investor the government is working with them to see that they become the main investor to take this on”.

He further described the Komenda Sugar factory as a “big government asset” which needs someone in business who knows how to do all those activities to take it forward for sustainability.

“So I think everybody will be hoping that once these formalities are completed, we will be able to make this very huge and functional”, His Excellency Sugandh Rajaram said.

Source: MyNewsGh.com

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