Grup Armangue, a Spanish consortium in the field of the manufacture of frames in steel for concrete reinforcement, is to establish its full presence in Ghana in the form of a Foreign Direct Investment (FDI).
According to Mr John Komlan Gbenyedzi, Chief Executive Officer (CEO) of Eco Technologies & Community Infrastructural Group Ghana (ETIC Group Gh) and Africa General Representative of GRUP ARMANGUE, the Group’s presence in Ghana would assume the nature of a US$10 million factory for the manufacture of prefab steel for all manner of estate projects, including bridges.
Mr Gbenyedzi, who was addressing a news conference to launch FERRALLATS ARMANGUE—a steel bending service—in Accra, yesterday, said the decision to adopt Ghana as an entry point to the African real estate market was mainly due to the stable political climate and conducive business environment.
He said the project, which was expected to begin in two years, would boost the real estate industry in Ghana in terms of speed and cost and to provide employment to about 200 Ghanaians.
He said in view of the recent spate of the collapse of buildings in some parts of the country, the prefab steel being introduced onto the Ghanaian market would give buildings the needed precision and fortification.
The ETIC Group (GH) is a Ghanaian company and the local representative specialised in the provision of innovative solutions for the basic necessities of life. Its areas of value chain supply include food, health, housing, clothing and transportation; which are being implemented through Public-Private Partnerships (PPPs).
The Group is in the unique business of “water extraction from the atmosphere” and supplies the technology and financial solution for a range of air to water machines which are distributed throughout Africa.
Source: ISD (G.D. Zaney)
