Ghacem to increase production to 3.4 million tonnes

Posted: April 20, 2011 in Economic Reporting
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The Crown Prince of Norway, Haakon in a handshake with Ghana's Minister of Trade & Industry, Hannah Tetteh during his visit at the Ghacem factory at Tema.

Cement manufacturing giants, Ghana Cement (Ghacem) has announced plans to inject an amount of $26 million into its core operations to meet the growing demand of cement in the country. The amount, according to the company’s officials, would be used to expand the company’s plant facility at Tema, to increase its production capacity from 1.2 million tonnes to 2.2 million tonnes per annum.

“This new expansion project will in no doubt further enhance Ghacem’s investment portfolio, which is tailored to meet the nation’s need for quality cement,” Morten Gade, Managing Director of Ghacem said at a durbar on Thursday, to welcome the Crown Prince of Norway, Haakon and his wife, Princess Mette-Marit, when they inspected the Tema plant.

The annual production rate of 1.2 million tonnes of cement by the company’s other plant facility at Takoradi is expected to be maintained.

The successful completion of the expansion drive will see the Heidelberg Group, majority shareholders of Ghacem, increase its annual production capacity to 3.4million tonnes.

Morten Gade, Managing Director of Ghacem says his outfits expansion drive will further enhance the companys investment potfolio.

Ghana, currently, has an untapped cement market potential of 3million tonnes per annum and competitors are embarking on all manner of strategies in order to get chunk of the market.

“We are anticipating growth in the cement market. Our expansion will make the company solid on the ground to meet the growing demand of cement in the country,” Dr. Dawson-Amoah, Corporate Director of Ghacem told the Business Chronicle in an interview.

Expansion works, according to company officials, would commence in the second quarter of 2011 and is scheduled to be completed in fifteen months time (third quarter of 2012).

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