The government is set to lease Komenda Sugar Development Company Limited to an Indian-based firm, West Africa Agro Limited for a renewable term of 15 to 20 years. Minister of Trade and Industry, K.T. Hammond, states that this initiative aims to revive the company’s operations to meet domestic demand. The Komenda Sugar Development Company Limited, also known as the Komenda Sugar Factory, was established in 1964 but halted operations for an extended period.
In 2016, the previous NDC government secured a $35 million loan from the Indian Export-Import Bank, followed by an additional $24 million investment to revamp the operations of the factory. The factory is currently undergoing a test run in preparation for full production. During a recent tour, Minister of Trade and Industry K.T. Hammond announced that the government is prepared to lease the factory to West Africa Agro Limited for up to 20 years, with renewal options.
KT Hammond highlighted the government’s commitment to revitalizing the factory and criticized the previous administration for its lack of diligence. He said there was a rush to commission it in 2016 getting close to election. It was commissioned and hasn’t worked since.
