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Kufuor breaks ground to begin work on
70 million-dollar cocoa processing factory
Accra, July 19, GNA – The Government’s drive towards
achieving value addition for Ghana’s raw cocoa beans has
received a big boost with a 70 million-dollar processing
investment by Cargill, a U. S based global leader in the
cocoa and chocolate supply chain.
The United States Company is building a state-of-the-art
plant at the Tema Free Zone Enclave to process 65,000 metric
tonnes of cocoa annually into liquor, butter and powder.
President John Agyekum Kufuor, who was on hand to perform
the ceremony to mark the start of construction work on the
project, said it was a manifestation of the growing
confidence in Ghana’s economy.
“Additionally, it testifies to the success of the
Government’s policies and measures, which have put the
economy on the growth path.”
The completion of the plant, scheduled for next year, would
bring the number of cocoa processing facilities in the
country to five.
Ghana has projected to process 350,000 tonnes of its cocoa
by 2008. The country during the 2005/2006 crop season hit an
all time record cocoa production of 740,458 tonnes.
President Kufuor said with Cargill’s global headquarters
located in the US and its products targeted at the US
market, the Company should serve as a vehicle for growing
trade between Ghana, Africa and the US.
He said like most sub-Saharan African countries, Ghana
offered one of the highest returns on investment and invited
more foreign investors to take advantage of the environment
to promote win-win partnerships with their counterparts in
the country.
Dr. Mark Keenum, US Under-Secretary of Agriculture, said
Cargill’s investment was a clear signal to the global market
place that Ghana was the place to invest.
He said the US was proud to be a strong partner in the
agricultural trade with Ghana.
Ghana is the second largest supplier of cocoa to the US,
which in 2005 imported 1.4 billion dollars of cocoa
products.
Dr. Keenum called for new and innovative ways to break into
the US and other markets.
He praised President Kufuor for upholding the social and
economic principles of the Africa Growth and Opportunity Act
legislation, citing, the school feeding programme.
Mr. Paul Naar, President of Cargill Food, said the
investment was a major step in the company’s partnership
with the country.
Mr. Alan Kyerematen, Minister of Trade and Industry,
described it as a fulfilment of the Government’s promise of
facilitating interventions that would add value to the
country’s natural resources.
He said with almost all the major cocoa processing companies
and mining giants now in the country, “Ghana can say it is
an investment destination of choice”.
Cargill operates in 66 countries and employs 153,000 people.
GNA
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