Ghana Cement (Ghacem) has announced plans to inject US$26m 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, increasing its production capacity from 1.2Mta to 2.2Mta.
"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 production rate of 1.2Mta 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 shareholder of Ghacem, increase its production capacity to 3.4Mta.
"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.
Expansion works, according to company officials, would commence in the second quarter of 2011 and are scheduled to be completed in 15 months time (3Q12).