Grup Armangue, a Spanish consortium that manufactures steel frames for concrete reinforcement, is entering Ghana as a part of Foreign Direct Investment.
Mr John Komlan Gbenyedzi, CEO of Eco Technologies & Community Infrastructural (ETIC) Group, Ghana and Africa General Representative of GRUP ARMANGUE said that the group would be setting up a USD 10 million factory in Ghana for the manufacture of prefabricated steel for all manner of estate projects, including bridges. Gbenyedzi, who was addressing a news conference to launch FERRALLATS ARMANGUE, a steel bending service in Accra, said that 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 that 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 provide employment to about 200 Ghanaians.
The ETIC Group is a Ghanaian company and the local representative for Grup Armangue. Its areas of value chain supply include food, health, housing, clothing and transportation, which are being implemented through public-private partnerships. The ETIC Group is also in the unique business of water extraction from the atmosphere, and supplies the technology and financial solutions for a range of air-to-water machines distributed throughout Africa.
