President John Dramani Mahama on Tuesday, February 24, broke the grounds for the construction of a $250 million float glass factory in Shama in the Western Region, by KEDA (Ghana) Ceramic Company Limited.
He also commissioned the Fifth Phase of the Tile Production Line and the Sanitary Wares Factory.
The President in his address recalled that last October, he was in China at the invitation of Chinese President Xi Jinping, during which they held an investments programme.
He said so many Chinese companies that had invested in Ghana attended the programme and that Mr Shen Yanchang, the Chairman of Twyford Group, was among those who, after the investment programme, asked for an appointment with him.
The President said at the time, they were getting ready to list on the Hong Kong Stock Exchange, and so Chairman Shen said, he had good news for him.
“And so again, I met him and he said, we’re going to list on the Hong Kong Stock Exchange. And so I came to pay a courtesy call on you and to have a picture with you so that we’ll add it to the portfolio for the listing. So I graciously granted it and he told me, if we list successfully, I’m going to come and build a glass factory for you,” President Mahama said.
“And I said, the last time I heard about the glass factory was Aboso Glass Factory. Are you coming to take over Aboso Glass Factory? And again, he told me, no. We’re building a brand-new glass factory. And today, we’ve got it here. Less than a year after we met in China. We cut sword for a $250 million float glass factory.”
President Mahama said if one imagines that every piece of glass one sees in this country, from their drinking glasses to their windows, to their beer bottles, every single piece of glass one sees in this country was imported from outside.
“And so, this is going to be a game changer in terms of glass production. So, I want to thank Chairman Chen for believing in Ghana.”
President Mahama assured Chairman Shen that a few weeks ago, about two weeks ago, he signed the 24-Hour Authority Bill into law; declaring that they now have the 24-Hour Economy Authority active.
He said, he had held the maiden Presidential Dialogue and that one of the issues they raised was the duties and taxes on capital equipment.
“For factories that are established and register under the 24-Hour Economy initiative, I have proposed that if they want to expand or they want to bring new equipment to retool their factory, they should be able to bring that equipment into the country duty and tax free,” he said.
“So, Chairman Shen, I can assure you that the incentives are coming.”
President Mahama said the sod-cutting for a new $250 million float glass manufacturing facility, the commissioning of the modern sanitary ware factory and the inauguration of Phase 5 of the ceramic tile production line, were not merely expansion of factories.
“It is a statement to the world. A statement that Ghana is no longer content to be a consumer and important economy. A statement that we are determined to produce, to process, to manufacture, and to export.”
The President said global float glass market was valued at approximately $60 billion annually and that Ghana must not remain on the margins of this industry.
He reiterated that they must bring some of that value into their country.
He said the new float glass facility had a total investment of $250 million and would rank among the largest industrial investments in the history of Ghana.
Phase 1 of the float glass factory will establish a capacity of 600 tons per day; whereas Phase 2 will add another 800 tons per day, bringing total capacity to 1,400 tons daily.
He said Phase 1 of the facility would be completed and commissioned in August 2026.
Mrs Elizabeth Ofosu-Adjare, the Minister of Trade, Industry and Agribusiness, described the Shama ground break for the construction of a float glass factor as a fulfillment of her made to attract investors into especially the manufacturing sector of the nation.
Mr Li Wei, the Managing Director of KEDA Ghana, said environmental stewardship was equally central to their corporate social responsibility.
“Act here strictly to environmental standards and have adopted a zero-waste manufacturing approach, ensuring that their group remains environmentally sustainable for future generations.”
Mr Shen Yanchang, the Chairman of Twyford Group, said the Government of Ghana’s passage of the 24-Hour Economy Authority Bill sends a positive signal to investors worldwide that Ghana was opened for business.
