At inauguration of 57 billion FCFA-worth two new factories: PM hails PROMETAL’s contribution to industrialization, growth.

He was speaking during the inauguration of two new PROMETAL steel processing plants viz; PROMETAL 4 and PROMETAL 5. Both processing plants are worth 57 billion FCFA.

The ceremony took place at the Industrial Zone Development and Management, MAGZI, industrial zone in the Bassa vicinity of the economic capital, Douala.

PM Dion Ngute was accompanied to the event by the Interim Minister of Mines, Industry and Technological Development, Prof Fuh Calistus Gentry.

Also present were the Minister of Justice and Keeper of the Seals, Laurent Esso; Minister of Trade, Luc Magloire Mbarga Atangana; Minister of Transport, Jean Ernest Massena Ngale Bibehe; the Minister Delegate to the Minister of the Economy in charge of Planning, Paul Tasong, alongside other state dignitaries. 

Factories’ specificities

The PROMETAL 4 factory worth 45 billion FCFA is a modern and diversified structure for the processing of finished steel products. 

It has the feature of producing wire rods from which materials such as nails, screws, smooth iron and others are made. 

It comes with the capacity of improving PROMETAL’s annual production capacity to 360,000 metric tons of finished steel products. Officials said it is the most modern in Sub-Saharan Africa.

Meanwhile, PROMETAL 5 factory worth 12 billion FCFA is meant for the production of domestic gas cylinders and metal structures. 

It has an annual production capacity of 600,000 gas cylinders and 5,000 metric tons of metal frame.

Its inauguration means an end to Cameroon’s dependence on imported domestic gas cylinders. The local demand is said to be 400,000 cylinders yearly.

Biya’s envoy hails PROMETAL

Presiding over the event on behalf of the Head of State, President Paul Biya, PM Dion Ngute situated the huge PROMETAL investments as catalysts for growth, job creation and overall development of the country and beyond.

He took delight that, the achievement is a product of the importance government attaches to the private sector.

Dion Ngute described the inauguration of the twin factories as “an important turn in the transformation of our nation's vision in becoming a leader metallurgic transformation in the sub region".

Situating the development within the National Development Strategy, SND, for the period 2020 to 2030, Dion Ngute said PROMETAL is playing a key role in government’s import-substitution policy.

Local industrialization, the President’s envoy said, is key in triggering a turnaround. He assured the management of PROMETAL and other investors that, instructions from the Head of State will continue to be implemented for a win-win partnership in making use of opportunities Cameroon affords.

Biya, PM Dion Ngute said, is convinced that, a vigorous private sector with actors such as PROMETAL is the cornerstone of emergence.

PROMETAL a shining example

In the government quest from an emerging economy, the Prime Minister said, the PROMETAL Groupe is an outstanding example that Cameroonians will continue to make it grow.

Dion Ngute said, figures are there to show PROMETAL is a key player in economic growth.

"150 billion invested since 2019, five operational sites, 440,000 tons of iron produced every year, the price of rods have reduced, 1,500 direct or indirect employments, inauguration of new plants 4 and 5, diversification in agro-Industrial production," the Prime Minister underscored.

He enjoined the management of PROMETAL to continue to make use of local labour. Cameroon, he said, needs the “vitality of their entrepreneurial spirit to create a mass density of companies and employment".

Dion Ngute also reassured of government’s commitment to continue dialogue to address obstacles that may erupt in the quest of investors to make use of the country’s opportunities.

“Authorities are in dialogue to seek solutions to such problems like the Head of State promised in his speech to ameliorate business climate," Dion Ngute stated.

Cameroon land of opportunities 

The PROMETAL success story in Cameroon, Dion Ngute declared, confirms the country as a land of opportunities where businesses thrive. He sounded positive that with such investments, Made In Cameroon brands can get a grip of the international market. 

"Look at PROMETAL, the environment had been favourable that they did not just limit themselves to metal production but other spheres like agro-Industry. This means Cameroon is attractive to investors," the PM noted.

He thanked the President, Director General of the PROMETAL GROUP, Hayssam El Jammal, for choosing to heavily invest in Cameroon.

Douala City Mayor upbeat about industrialisaion

The City Mayor of Douala, Dr Roger Mbassa Ndine, also thanked the PROMETAL Group, for investing in the municipality. 

The commissioning of the new factories, he said, raises the industrialization portfolio of Douala to a whole new level.

Mbassa Ndine expressed hope that more of such huge investments will come to Douala sooner than expected.

PROMETAL Groupe boss announces another huge investment

Speaking at Friday’s ceremony, President, Director General of the PROMETAL Group, Hayssam El Jammal, said until 2010, 80% Cameroon's metal products were imported. 

With the commissioning of the new factories, he declared an end to Cameroon’s dependence on imports. El Jammal also said products from PROMETAL will be sold at affordable prices compared to what obtains elsewhere.

As a demonstration of PROMETAL’s commitment towards the Cameroonian citizenry, El Jammal announced that in the foreseeable future, a convention shall be signed to build a 1 billion FCFA-worth firefighting brigade.

The facility, he said, will be to serve the population of the Bassa MAGZI zone. El Jammal noted that his Group has proven its capacity in making the company a pool of economic transformation.

El Jammal extended gratitude to the Head of State, Paul Biya, for prohibiting the importation of metal products which PROMETAL produces. 

The new developments, El Jammal said, are in support of Biya’s call for Cameroonians to consume what the country produces.

The PROMETAL Group boss further saluted government’s moves to boost iron ore production in the country.

Plants to create 3000 new jobs

Officials said at Friday’s ceremony that the two factories will create 3,000 jobs among them 1,000 direct jobs.

With production capacities that surpass national demand and the introduction of pioneering material such as wire rods, PROMETAL, officials said, is a key actor in making real the African Continental Free Trade Area, AfCFTA.

The facilities will also reduce Cameroon’s trade deficit, officials said. For iron-based construction, the gain in terms of balance of trade is estimated at 50 percent in reducing deficit.

PROMETAL Groupe boss, Hayssam El Jammal, a prolific investor

The two new plants bring to three, the industrial units built and operationalized by the PROMETAL Group in the last five years. 

This, observers say, makes Hayssam El Jammal, head of the Group, the most prolific investor in Cameroon in recent times. 

In Cameroon since 1978, the businessman experienced in investment has set himself as a leader, contributing to the country’s industrialization and that of Africa in general.

Through investments over 10 years, thanks to the PROMETAL Group, it has, for example, succeeded in moving Cameroon from the status of an importer of 80% of reinforcing steel consumed locally, to that of exporter of steel products. 

His dedication to the development of the Cameroonian economy earned him the distinction of Officer of the National Order of Valour on an exceptional basis. This was done by the President of the Republic, Paul Biya, by decree no. 2022/35 of July 29, 2023.

In addition to PROMETAL 4 and 5, his Group had commissioned the Novia Industries plant in the industrial zone of Bonabéri in 2023. Novia Industries produces vegetable oil, laundry and bathing soaps and other agro food products. 

More goodies for the future 

The Group is planning future projects targeting the development vision of the country. The PROMETAL Groupe intends to launch two new projects viz; PROALU-Processing of aluminum and other non-ferrous products with main partner and supplier of raw materials, the national aluminum company, ALUCAM. It will be located in Douala. 

The second will be a steel complex dedicated to the processing of iron ore from Cameroon with location at the Kribi Port.