Ministry of Trade and Industry yesterday signed contracts with the China National Building Materials Corporation in Accra for the construction of 22 factories under the ‘One District, One Factory (1D1F)’ initiative.
The 22 Engineering Procurement and Construction contracts were signed between some Ghanaian business executives, selected district assemblies represented by the ministry of trade and industry and the Chinese contractors.
The projects, valued at $400 million, are located in 22 districts across the 10 regions.
Speaking at the signing ceremony, Minister of Trade and Industry Alan Kyerematen, indicated that plans are far advanced to roll out many similar projects in other districts in the coming months.
The 22 projects, he said, have been selected as a result of their significant export potential, particularly in the Chinese market.
The investment value, which is estimated at about $400 million, is expected to generate significant economic benefits, including employment generation and tax revenue.
The minister further stated that the 1D1F initiative is designed as a comprehensive programme for rural industrialization, involving the setting up of at least one medium to a large-scale factory or industrial enterprise in each of the administrative districts of Ghana based on the natural resource endowment or comparative advantage of each district.
Mr Kyerematen indicated that a total of 707 business plans had been received from business promoters – out of which 602 had been reviewed by the Technical Support Group (TSG) of the ministry, with 313 of the plans considered to be feasible for implementation.
The trade minister praised the Chinese counterpart – CNBM Corporation – for honouring a pledge made in 2017 in support of the government’s industrial transformation agenda.
As part of this turnkey agreement, CNBM, which is known for high quality modern facility and factory construction, will support businesses to market and sell their products in the Chinese market through strategic partnerships and alliances.
The selected products, which include edible vegetable oil, starch, alcohol and garment, will also be sold in the ECOWAS sub-region and the local Ghanaian market.
Source: Daily Guide
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This is good news for the good people of Ghana, but please we are looking forward to know their exact locations. So it wouldn't be like NDC infrastructure building where by the contracts were been signed but till date we can't locate some of them. And again i believe none of them would be like Comenda sugar factory which was shut down three months after its commencement of business.
Big brains at work. The NPP is really God sent. I cant just imagine our wealth and growth as a nation if the NPP had continue governance till date. Ghanaians should be awake, never to vote for NDC again. Ghana is really working again.
There was no money initially but the ideas are bringing money,that is how it works,bring out the little you have and the lord will multiply.NDC HAS always sent us backwards,never should we allow them to come to power again.They just have no ideas,only amassing the nations wealth,julo julo julo
By 2020 the doubters would be singing a different tune.
Kojo, if one doesn't talk how would we know wisdom, ndc talk trash that doesn't help a nation, NPP talk sense to help the poor and needy. In any case, you can strip yourself and smear your body with ashes, Ghana is being built, Ghana is in the right direction, Ghana is moving forward backwards to ndc era never. God Bless Our Homeland Ghana. Ghana Will Be Great!
One day at a time everything will take shape. Please continue with your hard work. God bless our homeland Ghana and make us great and strong.
NDC ABRO NYE OOO HMMM YOU WILL NEVER COME TO POWER YOU STAY OPPOSITION TILL THY KINGDOM COME.NDC STANIC KINGDOM
lol
u gotta love these chinese man! They just know how to do business. Before u realize, a greater part of the proceeds from this 1D1F thing will go back to them. They will have de control. They will hire ghanaians and pay them coins and bring in their chinese nationals and give them fat fat salaries. wait and see...
The talk is too much just go ahead and do th talk super incompetent gorvement