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The largest iron steel manufacture in West Africa, B5 Plus Limited has provided a loan of US$8 million to GRIDCo and VRA for a dedicated power line to aid its production.
The company says this has become necessary because its biggest problem lies within the distribution channel, a situation which has compelled it to produce below its capacity. Presently it is producing at only 40% of its total capacity.
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“So currently, we have signed a contract with GRIDCo and VRA that we are going to finance as a loan to them, so that they are able to put a special line to the site so we are able to get our power. It is a loan of US8.0 million”, said the Chief Executive of B5 Plus ltd., Mukesh Thakwani.[ads1]
Mr. Thakwani is upbeat that the said investment will ensure a “hundred percent” solution to its power challenges, affecting production.
According to him, every standard factory requires both consistent and quality power.
“These are two very important factors to the steel industry – so if we are able to get this – I think it will really make a big difference because too much fluctuation really spoils a lot of high-tech machineries.” He said.
Loss count
Recounting some production losses to the intermittent power supply recorded in the country recently, the B5 Plus boss said the company has witnessed the explosion of three transformers in 2020 due to the power fluctuations.
Mr. Thakwani said, “last year alone till now we have blown up more than three transformers just because of the fluctuations.”
B5 Plus is expectant of a dedicated and reliable power supply to improve its market offering.
Impact on output
Mr. Thakwani is upbeat that the said investment will ensure a “hundred percent” solution to its power challenges, affecting production.
According to him, every standard factory requires both consistent and quality power.[ads4]
“These are two very important factors to the steel industry – so if we are able to get this – I think it will really make a big difference because too much fluctuation really spoils a lot of high-tech machineries.” He said.
About B5 Plus
Founded in 2002 by its CEO, Mukesh V. Thakwani, B5 Plus Limited has its headquarters in Ghana.
The company has a conglomerate of business operations spread across different countries in West Africa.
Mr. Thakwani’s main vision is to make B5 Plus Limited the world’s most renowned company for manufacturing and trading in iron and steel products.
B5 Plus Limited manufactures and trades in well finished iron and steel products which are known for their high quality. As a supplier, the company gives top priority to quality and ensures timely supply of goods to its customers.
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