GMC Universal Ghana Limited has secured a US $25m funding from Cosmos International of India for the manufacture and installation of a starch processing plant at Nkwanta South in the Volta Region.
GMC Universal Limited has, therefore, signed a Memorandum of Understanding (MoU) with KORAT S W Group of Thailand for the execution of the project.
Mr Olivier Kablan, Chief Executive Officer (CEO), signed on behalf of GMC Universal Ghana Limited while Mr Suchart Chuveeradach initialled on behalf of KORAT S W Group of Thailand.
KORAT, the largest manufacturer of cassava turnkey processing plants in Thailand and South East Asia, already has an agreement with Asikess Ventures Limited at Begoro-Aburaso under the One District, One Factory Programme, funded by Ghana EXIMBANK to manufacture and install 100 tons a day cassava starch processing plant, scheduled for completion in April 2019.
The project, which is expected to produce 200 tons of starch daily and scheduled for completion within 12 months, will adopt a block farming system where 2400 block farmers will be engaged to manage the initial 4800 hectares farmlands and provide employment to over 3000 people in the area.
It is expected that the State, in its facilitation of private sector development and employment generation, will play its role by providing the appropriate road and utility infrastructure to support the project.
Speaking at the signing ceremony in Accra, last Friday, Project Consultant Kodwo Ahlijah said cassava starch served as a rural staple food, convenience food for urban dwellers, industrial raw material, cash-crop and a foreign exchange earner, considering its high demand on the world stage.
Representatives of the Land owners of Bontibor, Nkwanta South District, led by Mr Gershon Gbediame, former Member of Parliament for Nkwanta, South have also agreed to lease 10, 000 hectares (25000acres) of farmland for 50 years for the development of the industrial cassava plantation.
Mr Gbediame gave the assurance that the production of cassava for industrial purposes would not affect or threaten the food stock in the market, since cassava would do well in every area of the country as compared to cocoa which grows well in specific areas only.
Source: ISD (Eva Frempon-Ntiamoah)