By: Daniel Yao Akpabli | ignewss – TEMA, Ghana
President John Dramani Mahama has commissioned a GH¢59 million expanded evaporated milk production line at Nestlé Ghana’s factory in Tema as the company steps up investment in local manufacturing and strengthens its capacity to serve domestic and regional markets.
The modernisation project is expected to increase production capacity, improve operational efficiency and reinforce Ghana’s position as a manufacturing hub for West Africa.
Speaking at the commissioning ceremony on Thursday, President Mahama said a stable macroeconomic environment, predictable fiscal policies, controlled inflation and stable foreign exchange rates were essential to encouraging businesses to invest in large-scale industrial projects.
He also emphasised the importance of a reliable electricity supply and supporting infrastructure in creating an environment where companies could expand their operations and sustain long-term investments.
“Capital goes where it is safe, but it stays and expands where there is stability and supporting infrastructure,” the president said.
He assured investors that the government would continue implementing policies aimed at maintaining macroeconomic stability, improving infrastructure and providing reliable power to support industrial growth.
Managing Director of Nestlé Ghana, Salome Azevedo, said the investment reflected the company’s confidence in Ghana and its commitment to strengthening local manufacturing.
“This milestone is more than the completion of a major investment; it is a strong expression of Nestlé’s confidence in Ghana, our enduring commitment to local manufacturing, and our conviction that Ghana will continue to play a leading role in the future of Central and West Africa,” she said.
The expanded evaporated milk production line builds on Nestlé Ghana’s earlier investment of GH¢175.4 million in a cereal production line, highlighting the company’s continued investment in its Tema operations.
Nestlé Ghana has also announced plans to invest an additional GH¢138 million to double its Milo production capacity and install another evaporated milk production line. The planned investments are expected to further expand the company’s manufacturing capabilities and support the supply of products to Ghana and neighbouring markets.
The latest investment comes amid calls for increased domestic production, industrial development and value addition to strengthen Ghana’s economy, create employment opportunities and reduce reliance on imported manufactured goods.
SOURCE: www.ignewss.com