Disruptions in global supply chain are behind rising cement prices, says trade minister

He attributed the costs to the disruption of the global supply chain initially caused by the COVID-19 pandemic and then by the Russian-Ukrainian conflict.

Mr Kyerematen said this on the floor of Parliament in response to a question from Yusuf Suleiman, MP for Bole-Bamboi constituency, who wanted to know what was behind the high cement prices recently.

He also blamed the depreciation of the cedi against the US dollar as well as the increase in the prices of petroleum products as some of the factors leading to the high cost of cement in the country.

In response to another question from the same MP regarding the state of the Komenda Sugar Factory, the Minister said that the factory was currently undergoing major retooling and repairs which were approximately 98% complete, with planning to undertake a production test run by the end of July 2022.

He said that regarding the civil works, the entire factory building and warehouse had been redone to stop leaks and corrosion, adding that the raw material warehouse as well as the factory fence were currently under construction.

Mr Kyerematen said four acres of nursery land had been prepared for the cultivation of sugar cane to support sugar production in the catchment area, saying there were plans to expand it to 500 acres after the start of operations.

He said the company’s board was finalizing negotiations with traditional authorities to secure about 20,000 acres of land needed for plantation development at Sekyere Obuasi and Sekyere Hemeng in Wassa East district.

Asked about the Ghana Trade Fair site, the minister said the area was undergoing a major redevelopment exercise, adding that at the heart of the transformation was the development of a global center for state-of-the-art conventions and exhibitions and a mixed-use commercial facility. including hotels, corporate offices and shopping and leisure centres.

He said the project concept and master plan design have been finalized with the land title, adding that the land has been cleared in preparation for the start of construction works.

Mr. Kyerematen said the Ghana Trade Fair Company is currently engaged with private sector investors to complete the financial close of the syndication of financing for the project.

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