The factory which is into the production and distribution of tiles would operate at a designed production capacity of 14.4 million square metres per year with annual sales projected to be $ 82.8 million.
This would therefore reduce importation of tiles from $90.66 million to $7.86 million per year with a further potential to reduce the demand on foreign currency and stabilise the local currency.
The factory, a subsidiary of Sunda (MU) Holdings Limited, a Chinese company is a boost to the New Patriotic Party’s one district one factory industrialisation programme.
President Akufo-Addo in his address reiterated his commitment to shift focus from taxation to production to boost the economy.
He said government was determined to add value to Ghana’s primary products to improve industrial activities to progress the living standards of the Ghanaian citizenry and that 95 per cent of raw materials needs of the company would be sourced locally.
President Akufo-Addo said Ghana Gas Company Limited would reduce the price per unit gas supply to the newly Twyford Ghana Ceramics Company Limited and other industries across Ghana as part of government’s agenda to improve the business environment.
Mr Y.C. Shen, the Group Chairman of SUNDA International said Twyford ceramics was set up in Ghana because of the enabling business environment created by the government through the one district one factory programme which they had taken advantage of to do business in Ghana and called for government’s support to ensure a smooth operation for the benefit of all.
He lauded government of Ghana for the one district one factory policy which he said was introduced in China several years ago
“Your government’s policy of ‘one district, one factory’ encourages investors to set up a factory in every district of Ghana which we believe is the best idea to move Ghana’s development forward and fast.
“Forty years ago, China was not more developed than Ghana today. The then Chinese government made a similar policy of rural industrialisation and the results is what we see in developed china today’’, he said.