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On Friday, September 2, 2022, Nana Addo Dankwa Akufo-Addo, the president of the republic, officially opened two factories that are part of the government’s One-District-One-Factory project, saying that “it is a day I will not forget.”
The APPED Cylinder Factory, which currently employs about 250 people and will eventually employ about 500 people, was President Akufo-first Addo’s stop after arriving in Ghana.
The business was founded in January 2019 to take part in the government’s premier industrialisation initiative.
In fact, commercial production and operations began in December of the same year that construction began, 2021, and were completed the following year.
With an established capacity of 4,000–5,000 (6kg–15kg) gas cylinders per day, APPEB Company is the largest manufacturer of Liquefied Petroleum Gas (LPG) cylinders in Ghana.
Due to the present market demand, the production capacity is currently at 2000 cylinders per day. As its primary raw material for manufacture, the company imports mild steel from China.
Speaking at the occasion, the President reaffirmed the Government’s ongoing commitment to offering strategic support to businesses and enterprises operating in Ghana, like APPEB.
“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 added, “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.
RIKPAT
An indigenous Ghanaian business, Rikpat Company Limited, has a total investment of $8 million and the ability to produce 350 metric tons of lubricants per day for both automotive and industrial use.
Engine oils of various grades, brake fluids, industrial oils, greases, and radiator coolant for both domestic and international markets are among the wide range of products that Rikpat offers.
RIKPAT “is going to complement the Ministry of Trade and Industry’s efforts to establish a vibrant automobile industry in the country,” according to President Akufo-Addo.
I recommend that all public entities get their lubricants from domestic producers like RIKPAT.
It is the most reliable technique to assist the business in recovering its investment, growing its business, and adding additional employees.
“Government remains committed to supporting private sector operators, like RIKPAT, to become globally competitive, and, thereby, take advantage of market integration frameworks such as the African Continental Free Trade Area (AfCFTA), whose Secretariat has been established and commissioned in Accra” he stated.
Source: Ghanatodayonline.com
