The government has announced plans to lease the Komenda Sugar Development Company Limited to West Africa Agro Limited, an Indian-based company, for a renewable period of 15 to 20 years. According to Minister of Trade and Industry K.T. Hammond, the move is intended to revitalize the company’s operations and increase domestic sugar production to meet local demand.
The Komenda Sugar Factory, also known as the Komenda Sugar Development Company Limited, which was established in 1964 has a rich history. However, it faced a prolonged period of inactivity. In an effort to revive the factory, the previous NDC government secured a $35 million loan from the Indian Export-Import Bank in 2016, supplemented by an additional $24 million investment aimed at revitalizing its operations.
As the Komenda Sugar Factory gears up for full-scale production, it is currently in the midst of a test run phase. During a recent visit to the facility, Minister of Trade and Industry K.T. Hammond revealed that the government is poised to lease the factory to West Africa Agro Limited for an initial period of up to 20 years, with the option for renewal, paving the way for a long-term partnership.
Minister of Trade and Industry KT Hammond emphasized the current government’s dedication to reviving the Komenda Sugar Factory, while also expressing disappointment with the previous administration’s handling of the project, citing a lack of diligence and ineffective management that hindered the factory’s progress.
