Chairman for GIISDEC, Alhaji Farouk Mahama
A local steel manufacturing giant, Fabrimetal Ghana Ltd, on Wednesday, November 24, 2021, inaugurated a newly installed state-of-the-art Section Mill to manufacture Angles, Flat bars, Square bars, and Channels.
These innovative lines of merchant bars add to the existing re-bars, a new range of steel bars on the Ghanaian market.
This brings the local investment to a tune of $40million.
In an interview with the media after the launch of the Section Mill, the Managing Director of Fabrimetal Ghana Ltd, Mr. Rohit Raj disclosed that the company started with a melting furnace and a rolling mill. It subsequently increased its capacity to meet the commercial demands of the steel industry while maintaining the same international quality of products.
The feat, according to him, led the company to consistently offer a high-quality import substitution at a competitive price and create a benchmark for other industry players in steel manufacturing.
He added that Fabrimetal Ghana Ltd was established in Ghana due to the political stability, social environment, language, and the firm belief in the potential of the Ghanaian economy as it continues to evolve.
Mr. Raj continued that another key driving motivator to stay in business is the availability of raw materials to enable manufacturers to sustain their business.
He said, "We also believe that Fabrimetal Ghana Ltd can work closely with the Government of Ghana to formalize and better regulate the natural resources to ensure a more robust eco-system."
"By this inauguration, we expect to increase our human capital capacity by employing, training, and empowering skills to create stable jobs for the youth in the community and the nation at large. We believe in the people of Ghana and the great potential which is key in motivation to continually renew investments in the local economy," Mr. Raj added.
He said they also believe that Ghana becomes an excellent hub for the other neighboring countries in West Africa so it places Ghana in a very good spot to manufacture steel products for export purposes.
The Deputy Minister of Trade & Industry, Michael Okyere Baafi, on his part, said Fabrimetal Ghana Ltd after its establishment, locally manufactured international quality steel products, which has become the pacesetter other companies look up to.
He noted that, since 2016, the facility has expanded strategically.
"Fabrimetal Ghana Ltd has pioneered various investments in the local steel manufacturing industry over the past years with an initial investment of USD 30 million and an additional USD 10 million for the newly installed section mill for which we are here today to celebrate. These investments are beneficial to the industrial economy by locally manufacturing import substitutes while enabling a self-reliant economy," he said.
"Fabrimetal Ghana Ltd not only established a state-of-the-art facility but is consistently investing in new machinery to redefine quality in product delivery. This achievement is made possible as a result of the great sense of confidence in the Ghanaian people; a key motivating factor for the immense investments Fabrimetal Ghana Ltd continues to make in the Ghanaian economy," he added.
In attendance was the Deputy Minister of Communications, Hon. Ama Pomaa Boateng, Hon. Alhaji Farouk Aliu Mahama, Hon. Al-Atiff Tetteh Amanor, Supt Kofi Ghampson, and Dr Bernard Okoe Boye.
