Alan Kyerematen Details Kumasi Industrial City Project To Otumfuo
The outgoing Minister for Trade and Industry, Alan Kwadwo Kyerematen has described as a legacy project, the Greater Kumasi Industrial City and Special Economic Zone initiative.
He said it will be the first of its kind in the whole of Africa if successful.
The details of the initiative which is being undertaken by the government in collaboration with the World Bank was explained to Asantehene, Otumfuo Osei Tutu II, during a courtesy call at the Manhyia Palace on Wednesday, January 11, 2023.
He visited with some Directors of the Ministry as well as the World Bank Bank Country Director, Pierre Laporte.
Speaking on behalf of the delegation, he said, “The purpose of this visit is also to inform you about the landmark project which the Ministry of Trade and Industry has initiated with the support of the World Bank which is the establishment of the Greater Kumasi Industrial City and Special Economic Zone Initiative.”
He said the project which will be sited in the Ejisu Municipality of the Ashanti Region, will be the flagship industrial project of Ghana and a game changer for industrial transformation.
“We want this new industrial city and special zone of Ghana to be the prime investment destination and manufacturing hub in our country.”
The location of this industrial city will be in Ejisu in the Juaben Municipality, he told the King.
He explained Ejisu is a strategic location due to the fact that the Ashanti Region is the confluence of almost 8-9 regions in Ghana.
“It pulls together not just Ashanti, Western, Eastern, part of the Central Region…And beyond Ghana, it is a transit corridor to some neighbouring countries like Niger, Mali, and Chad.”
He said about 5,000 acres of land have been acquired for the project.
The land, he said, adjoins the Boankra inland port.
Creation of Jobs
“Our critical challenge is about creating jobs,” he said and added, the project is about “creating industries so we feel that when this project is executed, it will contribute significantly to jobs creation.”
“We are going to be an agro-industrial path which will concentrate on producing our fruits; there’s going to be a pharmaceutical park; there’s going to be a technology innovation centre trying to replicate Silicon Valley; we are also to have mineral processing zone; there’s also going to be a financial services sector; hospitality and an entertainment enclave”, he said.
World Bank Contribution
The government is doing this with support from the World Bank
Alan said the Bank has so far contributed USD 30 million toward the project.
“The World Bank supported the government by putting in USD30 million as an initial investment to develop off-site infrastructure to attract and crowd in private sector management.”
On his part, Pierre Laporte said the project is advancing quite well.
$150 Million Loan Facility Investment
In addition to the contribution of the World Bank, Alan disclosed the government was also seeking a $150 million loan from South Korea to invest in the off-site infrastructure of the project.
“On the back of that, the government has made a request for $150 million dollars to extend off-site infrastructure”, he stated.
He said his recent trip to South Korea proved the country was more than willing to grant the facility.
Source: opemsuo.com/Hajara Fuseini