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The Minister of Trade and Industry, Haruna Iddrisu, says government will start work towards the revamping of the Komenda Sugar Factory in the Central Region, by July this year. He has, therefore, requested for early release of $ 35m by the EXIM Bank for the project, once the necessary documentation is ready, and a Memorandum of Understanding is signed with a selected company. Mr Iddrisu made the call, when the Indian High Commissioner to Ghana, Rakinder Bhagat, paid a courtesy call on him in Accra. The Minister said plans are also being made to establish another sugar factory in the Northern Region of Ghana. He said industrialization is key to economic growth, and appealed to more Indian-based manufacturing companies to invest in the country. The Minister stressed that government is looking forward to more agro-based companies investing in Ghana, particularly the manufacturing sector. Mr Bhagat assured the Minister that 30% of the funds will be released once the contract is finalised and the MOU is signed. The High Commissioner said India is committed to strengthening bilateral relations with Ghana. In 2012, the Indian Government through the EXIM Bank of India granted the government of Ghana a loan of $ 35m for the construction of a sugar factory at Komenda in the Central Region. The project will provide direct employment for 400 people with more than two thousand farmers also benefiting.