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    President Akufo-Addo Commissions Phase One of Ghana’s $80m Mega Steel Plant


    President Nana Akufo-Addo (second left) taking tape to symbolize the official commissioning of phase one of the steel plant

     

    Ghanaian President, Nana Akufo-Addo, has commissioned the first phase of Ghana’s mega steel factory.

    The  B5 Plus Steel Plant is located around Kpone, within Ghana’s Greater Accra Region.

    An estimated $80 million is being invested in the setting up of the plant.

    On Tuesday, April 13, 2021, President Akufo-Addo was supported by Ghana’s Trade and Industry Minister, Alan Kyeremanten, and Chief Executive Officer of B5 Plus Limited, Mukesh Thakwani, in commissioning the phase one of the Steel Plant.

    The President recounted that the B5 Plus Steel Plant was “an enterprise operating under Government’s One-District-One-Factory (1D1F) initiative.”

    Mr. Akufo-Addo added that “This plant is a concrete manifestation that the new paradigm of economic development, which this administration has been vigorously pursuing since 2017, of insisting on value-addition industrial activities within a conducive and business-friendly environment, is making headway.”

    It would be recalled that sod was cut on September 12, 2018, for the over $80 million project.

    The Plant is one of the key projects under the 1D1F Programme.

    When fully operational, the Plant will have the capacity to serve both the Ghanaian market and the West African subregion.

    It is envisaged that B5 Plus Limited when in full operation, will save Ghana some $100 million in foreign exchange in its first year alone, with the figure expected to increase in subsequent years.

    The Plant is situated on 377 acres of land and is expected to created about 3,000 direct and indirect jobs.

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