President Nana Addo Dankwa Akufo-Addo on Friday (22 April 2022) commissioned the Atlantic Life Sciences manufacturing plant for Atlantic Lifesciences Ltd, a company operating under the government’s One District, One Factory (1D1F) initiative.
Speaking at the commissioning, President Akufo-Addo said that the ceremony was “in further 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”.
According to the president, “Whilst previous attempts at rural economic revitalisation in Ghana have focused mainly on the provision of physical infrastructural facilities, the One District, One Factory programme focuses on the promotion of commercially viable business ventures, to generate sustainable and accelerated economic development for rural communities.”
He said Atlantic Lifesciences Ltd has established the new facility in the health-care sector with the support of the government. It will engage in the manufacture of vaccines, anti-snake serums, eyedrops, inhalation anaesthesia products, syrups, tablets and capsules within the framework of One District, One Factory (1D1F).
The Atlantic Life Sciences industrial plant is based in Larkpleku, in the Ningo-Prampram Municipal Assembly area.
“It is the 107th factory completed and operating under the 1D1F initiative, out of the 278 enterprises being established and rehabilitated across the country, and I congratulate the promoters and management of the company for taking advantage of this programme,” President Akufo-Addo said.
The president was happy to note that the Ministry of Trade and Industry, in collaboration with Ghana EXIM Bank and Standard Chartered Bank, has supported the company since 2017 to benefit from the 1D1F programme.
Out of the total investment for the project, which is estimated at US$35 million, Ghana EXIM Bank provided a credit facility to the tune of $10 million to cover procurement of plant, equipment and machinery.
This underscores the kind of support the government has given to the private sector, the president said, to take advantage of economic opportunities in Ghana.
President Akufo-Addo was pleased to learn that “this new factory is generating some 380 direct jobs, and, when fully operational, will generate additional direct employment for some 400 workers. In addition, the facility is expected to create a total of 2,500 indirect jobs.”
He commended the Ministry of Trade and Industry, Ministry of Health, Ghana EXIM Bank, Standard Chartered Bank, Food and Drugs Authority, traditional authorities and foreign partners of the company for their collaborative work, which has made possible the support required for establishing the state-of-the-art manufacturing facility.
Asaase Radio 99.5 – tune in or log on to broadcasts online
99.5 in Accra, 101.5 in Bawku, 99.9 in Bimbilla, 100.3 in Cape Coast, 90.7 in Ho, 98.5 in Kumasi, 99.7 in Tamale, 89.5 in Tarkwa and 106.9 in Walewale
Join the conversation. Call: 020 000 9951 or 059 415 7777. Or WhatsApp: 020 000 0995.
#AsaaseRadio
#TheVoiceofOurLand
