The Ranking Member on the Trade and Industry Committee of Parliament and Member of Parliament for Bole-Bamboi, Yusif Sulemana, is accusing the Trade and Industry Minister of attempting to sell the Komenda Sugar Factory to an Indian-owned firm.
Referencing the drill ship saga, Yussif Sulemana said “we know the history of the Minister of Trade. We were in this country when he sold our drill ship, so I will not be surprised that he is on his way to sell the Komenda sugar factory.”
He added, Parliament has not been informed of this decision and demanded that the Trade Minister, K.T. Hammond, be summoned to answer questions.
During a recent tour, the Minister of Trade and Industry, Kobina Tahiru Hammond announced that the government is prepared to lease the factory to West Africa Agro Limited for up to 20 years, with renewal options.
According to government the move is to revive the company’s operations to meet domestic demand.
The Komenda Sugar Development Company Limited, established in 1964, has faced operational challenges, including a halt in production.
Despite investments from the Indian Export-Import Bank and the previous NDC government, the factory is yet to achieve its objectives.
Speaking to the media, the Ranking Member on the Trades and Industry Committee warned foreign companies against going into contractual agreement with the Trade Minister without following due process.
“Any foreign company that is going into any contractual agreement with the minister without due process, we can assure them that the NDC administration will abrogate the contract,“ he said.
The $35 million factory was inaugurated by former President John Mahama in May 2016. The project was funded by the Indian EXIM Bank to produce sugar to reduce the importation of the commodity and also create direct and indirect jobs for about 7,300 people along the value chain.
Operations of the factory came to a halt owing to a plethora of challenges after being commissioned by former President Mahama in May 2016.
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