Olam opens new mill in Ghana
Feb. 29, 2012
by Eric Schroeder
LONDON — Olam International Ltd. has expanded its presence in Africa with the opening of a $55 million wheat milling facility in Ghana.
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,” said Sunny Verghese, chief executive officer of Olam. “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 the African continent whilst extending our lasting partnership with the people and the government of the country.
Calling the new wheat milling facility “a stepping stone” to its long-term strategy in Ghana, Olam said the mill will employ 100. The plant’s capacity is 115,000 tonnes of flour production per year.