Tariff review saves 400 steel jobs

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Government’s quick response to a distress call by Rider Steel Ghana Limited has salvaged the employment of some 400 workers who were laid of following the shutdown of the steel plant over a month ago.

According to the company the high electricity tariffs being charged by Enclave Power Company (EPC) unlike what is charge other steel companies has made it difficult for operations to continue.

However, management of Rider Steel Ghana Limited has confirmed to Goldstreet Business the resumption of work and the re-engagement of all the worker that were laid off following government’s intervention to have the tariffs looked at again.

Speaking to this reporter, General Manager of Rider Steel, Tarini Prasad Patnaik was optimistic a definite conclusion on the pricing will be arrived soon.

“Actually the new prices are under negotiation.  What was agreed is that ECG charges the same price for all the steel companies while the price if negotiated.”

According to the company, which is located within the Tema Export Processing Zone, it is being charged 52 pesewas per kilowatt hour of electricity by a privately owned power distribution company, Enclave Power Company (ECP), while other steel companies are charged 21 pesewas per kilowatt hour upon negotiation with the ECG.