Ghana spends over US$3billion to import iron rods – Aliu Mahama

GIISDEC witness samples of iron rods manufactured by Fabrimetal

Support local manufacturers, Aliu Mahama

Mine raw material needed for manufacturing, Aliu Mahama to steel manufacturers

Board Chair of Ghana Integrated Iron and Steel Development Corporation (GIISDEC), Farouk Aliu Mahama, has averred that the country imports over US$3 billion of iron rods.

Aliu Mahama, who couldn’t fathom why such a huge sum of money will be used to import iron rods asked that the government partners with local manufacturing companies like Fabrimetal to produce more steel and iron rods.

Speaking to Joy Business at the launch of a $10 million section mill by Fabrimetal, he said, “First of all, we have to understand that the iron and ore industry is very interested in partnering with Fabrimetal. The country imports over US$3 billion in iron rods.

“We are here with the management of GIISDEC to witness samples of iron rods being manufactured. Why should we spend all this money on importation when we have a local company like Fabrimetal?” he asked

He encouraged iron and steel companies to go a notch higher and not remain at the downstream sector of manufacturing to the upstream sector.

He said GIISDEC is ready to support them if they are ready to mine raw materials for manufacturing.

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