Ghana Rubber Estate Limited (GREL) management is to commit GH¢33 million in the building of a new factory to increase rubber production in Ghana.
The viability studies and consultation with all the stakeholders have also been completed to start the project.
Mr Lionel Barre, Managing Director of GREL, told this at the 2nd edition of GREL – Media interaction at Apimanin in the Ahanta West District of the Western Region.
It was to allow the Ghana Rubber Estate Limited to showcase its challenges and achievements.
Mr Lionel Barre said the new factory was a huge investment the company was undertaking and that it would be done in two phases over 10 years and would involve the construction of new rubber processing plant at Apimanin.
He said the first phase of the project was expected to be completed in 2019 and that by next month recruitment for staff would start.
Managing Director said GREL is the leading natural rubber producer in Ghana. It has a concession of 20,279 ha of which 15,041 ha has been developed into rubber plantation in the Western, Central and Eastern regions of Ghana.
He said GREL has a great future and could be the number one foreign exchange earner and job avenue for many if given the needed support. He said the low prices of rubber in the world market are one of the challenges facing the company.
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