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Olam to open $55m wheat milling facility in Ghana

FBR Staff Writer Published 20 February 2012

Olam Ghana, a subsidiary of Olam International, is set to open its $55m wheat milling facility in Kpone Industrial Area, Tema, Ghana.

The mill features a factory, eight large silos for wheat storage, two warehouses, a lab, and will achieve an annual flour production capacity of 115,000 metric tons within three years.

According to the company, the new wheat mill is expected to contribute significantly to Ghana's food security plans, create employment and generate about GHS20m ($11.62m) per year as government revenue through taxes and duties.

Olam International CEO Sunny Verghese said this facility marks another milestone in the company's lasting partnership with Ghana.

"Wheat flour is a significant and highly demanded food component worldwide and in Ghana as well, whose demand and consumption we envisage to increase further over the next few years as incomes increase in the country," Verghese added.

Olam International is a Singapore-based processor of agricultural products and food ingredients.

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