Fabrimetal, Ghana’s leading steel manufacturing giant has launched 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 $40 million.
In an interview with the media, Managing Director of Fabrimetal Ghana Ltd, Mr. Rohit Raj noted that the company started with a melting furnace and a rolling mill which was subsequently increased in capacity to meet the growing commercial demands of the steel industry while maintaining the same international quality of products.
He noted that the company has over the past years been consistent in offering high-quality import substitution at a competitive price saying “this has created a benchmark for other industry players in steel manufacturing.”
“We decided to establish 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 positively”, he said.
According to him, another another key driving motivator to stay in business is the availability of raw materials that has over the years enabled manufacturers to sustain their businesses.
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.
Present at the launch was the Deputy Minister of Trade & Industry, Michael Okyere Baafi, who commended Fabrimetal for their hard work and dedication to support the steel industry in Ghana by producing high-quality international standards products.
He said, “Since the establishment of Fabrimetal, the company has been committed to locally manufacturing international quality steel products, which has become the pacesetter to other companies. Since 2016, the facility has expanded strategically and has pioneered various investments in the local steel manufacturing industry over the past years”
The minister revealed that the company started with an initial investment of USD 30 million and an additional USD 10 million for the newly installed section mill. These investments, according to him, are beneficial to the industrial economy by locally manufacturing import substitutes while enabling a self-reliant economy.
“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.
Also present at the launch were 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.