President Akufo-Addo commissions US$35 miliion pharmaceutical plant

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nana adddd com
President Akufo-Addo commissions US$35 miliion pharmaceutical plant 4

The president of the Republic of Ghana ,H.E Nana Akufo Addo on Friday, 22nd April 2022, commissioned the $30 million Atlantic Lifesciences Ltd, a company operating under Government’s 1-District-1-Factory Programme, and located at Ningo Prampram.

The Atlantic Lifesciences Ltd is part of the one hundred and seventh (107th) factory completed and operating under the 1D1F initiative, out of the two hundred and seventy-eight (278) enterprises being established and rehabilitated across the country.

Out of the total investment for the project, which is estimated at thirty-five million dollars (US$35 million), Ghana Exim Bank provided a credit facility to the tune of ten million dollars ($10 million) for the procurement of plant, equipment, and machinery.

This underscores the kind of support given by Government to the private sector to take advantage of economic opportunities in the country.

Speaking at the commissioning, President Akufo-Addo said the ceremony was a fulfilment of the promise by the government, in partnership with the private sector, to set up at least one medium to large scale enterprise in every district of Ghana.

He made it clear that the plant, the 107th to be built under the 1D-1F initiative, would enhance the country’s plan to be self-reliant in the production of essential medicines and equipment, and vaccines.

The President was happy that the factory would create some 380 direct jobs and when fully operational it will generate additional 400 direct jobs.

Mr Alan Kyerematen, Minister for Trade and Industry was also there to assist.

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President Akufo-Addo commissions US$35 miliion pharmaceutical plant 5

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