A 0.6Mta cement factory is being set up as a a joint venture between Ghana and Iran, at the Dawa Industrial Enclave, on the Tema-Aflao road, Ghana.

The US$30m Ilam Cement factory is expected to be completed in two years. Ghana's Vice President, Dr Mahamadu Bawumia, was at the ceremony that marked the start of the construction. Iran owns 90 per cent shares in the project with Ghana owning the rest.

An MoU was signed earlier this year between Ghana and Iran when the Dr Bawumia visited the country during the inauguration of Iranian President, Hassan Rouhani.

Dr Bawumia said the project, which reflects the economic dimension of the relations between Iran and Ghana, would boost the nation's infrastructural drive, create jobs and help make the price of cement competitive.