Rider Iron and Steel Ghana Limited (RISGL), has praised The President, Nana Addo Dankwa Akufo-Addo for the good measures being put in place to cushion businesses in this crucial time.
According to the local steel manufacturing company based in Odumasi-Konongo, the government has created a conducive business environment for investors to set up in Ghana and this has in turn created jobs for the citizens.
The company also showed gratitude to the International Finance Corporation (IFC), a member of the World Bank Group, for approving a US$12million loan support for the construction of its manufacturing office in the Ashanti Region.
The Company Director, Mr Walid Al Alami said the capital injection from the IFC,
“Is a game changer not just for the company but also for the industry and Ghana as whole.”
“RISGL conveys its deepest gratitude to the IFC professional leadership and the extremely skilled team that worked diligently on this for more than a year and half.”
He said,
“The loan would propel the company to meet the domestic demand for steel products and support many other businesses.
Mr Al Alami also expressed gratitude to the Asantehene, Otumfuo Osei Tutu II for his warm reception towards the directors of the company and also for offering the company a vast land for its factory.
General Manager of RISGL, Dr. Majd Hawwari also showed gratitude to the IFC and explained that the engagement with IFC would take the industry to another level regarding the number of jobs that would be created in the next 30 years.
He said,
“The capital injection would also have an impact on the quality of the products due to the advanced technology of the company and the vast industry experiences of the company and through collaboration with local expert houses such as Kwame Nkrumah University of Science and Technology (KNUST).”
He made known that the company was conscious of its impact on the environment and as such would use sophisticated equipment that reduce air pollution.
RISGL factory based in Odumasi-Konongo, is anticipated to be the largest steel manufacturing factory is West Africa when it becomes operational in June 2021.
It will be equipped with six 20 MT furnaces that will be able to produce more than 240,000 metric tonnes worth of Rebar steel and Structural material such as angle steel, C channels and I beams.
The factory is expected to create about 450 direct jobs and generate more than 13,000 indirect jobs in value chain, mostly among individuals and micro enterprises engaged in scrap collection.
