The government is finalizing plans to lease the Komenda Sugar Development Company Limited, to West Africa Agro Limited, an Indian-based firm in a bid to revitalize operations.
The lease agreement is expected to span 15 to 20 years, with options for renewal.
Established in 1964, the Komenda Sugar Factory has been inactive for an extended period, prompting the government’s intervention to meet domestic sugar demand.
Previous efforts by the NDC government in 2016 to revive the factory involved securing a $35 million loan from the Indian Export-Import Bank and an additional $24 million investment.
Minister of Trade and Industry K.T. Hammond emphasized the government’s commitment to the factory’s revival, criticizing the previous administration for their handling of the project.
He highlighted the need for proper management and investment in the factory’s operations to ensure its sustainability.
The factory is currently undergoing a test run in preparation for full-scale production, with the government keen on ensuring its successful operation under the new lease agreement.
The Minister reiterated that the government’s primary goal is to see the factory fully operational and contributing to the local economy.
