LONDON, ENGLAND — Olam International Limited has expanded its presence in Africa with the opening of a state-of-the-art wheat milling facility in Ghana, the company announced on Feb. 27.
The mill is aimed at making the country self-sufficient in wheat flour, and signifies Olam’s continued support for the country where it is a leading player in the cocoa, cashew, cotton, rice and sugar supply chains and operates a packaged foods business, the company said.
“This event marks another milestone in our goal to become a major wheat miller in Sub-Saharan Africa, as we consolidate our West Africa expansion into the midmarket grain supply chain here in Ghana. This investment will enable us to unlock mutual value, contribute to the country’s food security and capitalize on the increasing demand for flour-based products here on African the continent whilst extending our lasting partnership with the people and the government of the country. We are grateful to President Evans Atta Mills for officially opening this facility,” said Sunny Verghese, chief executive officer of Olam International.
The new wheat milling facility is a stepping stone to Olam’s long-term strategy in Ghana, at a cost of $55 million, it forms part of the increase in planned investment from $90 million to $450 million announced by Verghese at the inauguration ceremony.
Olam Ghana employs over 500 people, increasing to nearly 1,500 in the next three years, of which 100 will be employed at the new wheat facility. The production capacity of the plant is 115,000 tonnes of flour production per annum.