In the Central region, President Nana Akufo Addo officially commissioned two factories that are part of the government’s One-District-One-Factory program.
President Nana Akufo Addo said, “It is a day I will not forget. It is the first time I have done so since taking office.”
The APPED Cylinder Factory, which presently employs around 250 people and will eventually employ about 500 people, was President Akufo-first Addo’s stop after arriving in Ghana.
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The two separate events happen on Friday, 2nd September 2022 in the Awutu Senya West and Gomoa East.
The company was established in January 2019 to participate in Government’s flagship industrialization programme. Indeed, construction started in 2019 and was completed in the year 2021 with the commencement of commercial production and operations in the month of December the same year.
APPEB Company is the largest Liquefied Petroleum Gas (LPG) cylinder manufacturer in Ghana, in terms of production capacity with an installed capacity of 4,000 to 5,000 (6kg /15kg) gas cylinders per day. The current production capacity is about 2000 cylinders per day due to the current market demand.
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The company imports mild steel from China as the main raw material for production. Speaking at the event, the President reiterated Government’s continued commitment to providing strategic support to companies and enterprises, such as APPEB, operating in Ghana.
“We will continue to enhance the existing incentive framework designed to make 1D1F designated companies more competitive and sustainable. The incentives, which include tax holidays, import duty waivers, and interest rate subsidies, are designed to help build the capacities and competitiveness of these enterprises, and to position them for greater productivity and efficiency,” he said.
President Akufo-Addo continued, “We are waiting patiently for Parliament to give its approval to the fiscal incentive package, and I ask, respectfully, that Parliament expedites action on the matter, which has been, somewhat, delayed. It is important for investors that the legal processes for the grant of the package be completed as soon as possible.”
He encouraged the proprietors and management of APPEB Cylinder Manufacturing Ltd to take further advantage of this package, and establish similar industrial enterprises in other parts of the country.
Source: www.ghnewslive.com
