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StoriesApril 20, 2021
One-District-One-Factory: President Nana Akufo-Addo Commissions Phase One of B5 Plus Steel Plant
- Written by Sandra Francisco
- Published: April 20, 2021
In his promise to create more factories and jobs for Ghanaians, President Nana Akufo-Addo commissioned the Phase One of B5 Plus steel plant on April 13, 2021. Situated in Larpleku in the Ningo-Prampram District in the Greater Accra Region, B5 Plus steel plant is an enterprise operating under the Government’s One-District-One-Factory (1D1F) industrialization initiative.
His Excellency President Nana Akufo-Addo said: “this plant is a concrete manifestation that the new paradigm of economic development, which this administration has been vigorously pursuing since 2017, of insisting on value-addition industrial activities within a conducive and business-friendly environment, is making headway”. The plant, which costs over $80 million, is expected to create about 3,000 direct and indirect jobs.
When fully operational, Ghana will see the end of the importation of steel into the country and the plant will also have the capacity to serve both the local market and the West African subregion, as noted by Alan Kyerematen, the Minister of Trade and Industries, who said: “the factory will be a substitute for our importation. Ghana imports billions of iron and steel annually and is the second largest import after the automobile and vehicle industry. But now with our own factory, we will serve our local economy and anything that substitutes importation is worth celebrating”.
When in full operation, it is envisaged that B5 Plus Limited, the largest iron and steel company in Ghana and the region, will save the country some $100 million in foreign exchange in its first year alone, with the figure expected to increase in subsequent years.
President Akufo-Addo asked B5 Plus to take advantage of the incentives such as the provision of utilities and tax holidays under the 1D1F programme in order to be competitive. He reassured the management of B5 Plus that the Government would ensure that power and water are provided to the company to optimize it operations.
He also said that the Government would continue to support the industries under the 1D1F initiative to be sustainable, adding that 76 factories, which have employed 139,000 people, have so far been completed under the programme. He noted that 258,000 more persons are expected to be employed when all the 1D1F projects are finalized.
ABOUT B5 PLUS LIMITED: B5 Plus Limited has a vision to become the best in the steel manufacturing industry through its innovative approach. The company strives to be a pioneer in the West African region, setting a benchmark for iron and steel products in terms of excellence. Its mission is to cater to the needs of its customers in all aspects, especially of cost and quality.
CONTACT DETAILS
WEBSITE: www.b5plus.com
ADDRESS: Kpone Barrier, Aflao Road, Opp. Kingdom Transport, Tema, Ghana
CONTACT: (+233) 244 331 635 / (+233) 244 342 600 / (+233) 244 333 511 / (+233) 544 313 204
EMAILS: This email address is being protected from spambots. You need JavaScript enabled to view it. / This email address is being protected from spambots. You need JavaScript enabled to view it.
MORE ABOUT B5 PLUS
INTERVIEWS:
• B5 Plus: The Leading Iron and Steel Company in Ghana and West Africa by Mukesh Thakwani
• Business Leader Mukesh Thakwani Discusses Steel, Healthcare and Education in Ghana
• B5 Plus: Mukesh Thakwani Discusses the Importance of Promoting Products Made in Ghana
• Mukesh Thakwani Talks Latest Developments at B5 Plus, the Largest Steel Producer in Ghana
COMPANY PROFILE:
• B5 Plus Ltd: Manufacturing and Trading of Iron and Steel Products in Ghana and West Africa
EXECUTIVE PROFILE:
• Mukesh Thakwani, Founder of B5 Plus, the Leading Steel Manufacturing Company in Ghana
CORPORATE STORY:
• B5 Plus: Best Steel Manufacturing, Pre-Engineering Fabrication and Trading Company in Ghana
VIDEOS:
• Ghanaian Company B5 Plus is Recognized Once Again for its Efforts in the Steel and Iron Industry
• B5 Plus: An Overview of the Iron and Steel Industry in Ghana and West Africa
• B5 Plus: Mukesh Thakwani Discusses the Impacts of COVID on the Iron and Steel Sector in Ghana
• Giving Back to Society: A Priority for Mukesh Thakwani, Founder and CEO of B5 Plus Ltd
• B5 Plus: Bringing Quality Steel Products at a Competitive Price to the Consumer's Doorstep
• Iron and Steel Industry in Ghana and West Africa: B5 Plus, A Journey to Success
• Top Ghanaian Steel Manufacturing Company B5 Plus Discusses Steel Exports in West Africa
• B5 Plus Group: The Leading Manufacturer of Steel Products in Ghana and West Africa
• Government Should Prioritize Products Made in Ghana, says Business Leader Mukesh Thakwani
• B5 Plus: Mukesh Thakwani Talks Competitive Advantages and Cheap Imports Coming to Ghana
• B5 Plus: Founder and CEO Mukesh Thakwani Mentions Latest Awards and Talks Future Plans
• B5 Plus: A Global Steel Giant and Market Leader in Ghana and West Africa Since 2002
• B5 Plus: Revolutionizing Ghana’s Steel Industry and Championing Local Manufacturing in West Africa
• Mukesh Thakwani Shares B5 Plus’ Impactful Journey of Job Creation and Social Responsibility
LATEST NEWS:
• COVID-19: B5 Plus Limited is Offering Free Medical Oxygen Refilling to Hospitals in Ghana
• One-District-One-Factory: President Akufo-Addo Commissions Phase One of B5 Plus Steel Plant
• Ghana Industry: Leading Steel Manufacturer B5 Plus Limited Wins Two Prestigious Awards
• Ghana CEO Excellence Awards: Mukesh Thakwani of B5 Plus Named CEO of the Decade
• Millennium Excellence Awards: Steel Manufacturer B5 Plus Named CSR Company of the Year
• Ghana Steel Industry: Mukesh Thakwani of B5 Plus Awarded Iconic Industrialist of the Decade
• B5 Named Platinum Economic Pillar and Outstanding Steel Manufacturing Company of The Year
• Leading Steel Manufacturer B5 Plus Wins Over 30 Prestigious Awards in Less Than a Year
• Over 100 Hospitals Benefitting From B5 Plus Free Oxygen Initiative to Help Fight COVID-19
• Mukesh Thakwani Honored for Outstanding Contribution to the Economic Development
• B5 Plus Recognised for its Tremendous Impact on the Steel Manufacturing Industry in Ghana
• B5 Plus Group: Mukesh Thakwani Felicitated with Global Leader of the Year 2021-22 Awards
• Ghana Steel Industry: B5 Plus Receives Awards for its Investments and CSR Initiatives
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