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ECONOMICS

Nano foods in Nsawam to start production in April 2020

Minister for Trade and Industry, Alan Kyeremantey has told Parliament Nsawam Astek Company Limited, now Nano Foods would start full operation in April 2020.

Date Created : 11/13/2019 1:28:14 AM : Story Author : Kwaku Sakyi-Danso/Ghanamps.com

According to the Minister, a capital expenditure component of two million, six hundred and thirty-nine thousand and seven hundred and sixty Ghana cedis (GHc 2,639, 760.00) has been disbursed to the company, with the working capital component still outstanding.

The promoters had ordered a 600MT per annum pineapple processing equipment that is scheduled to arrive in January next year for installation to enable the company to commence operation in April of next year.

“Mr. Speaker, Astek expressed interest to be part of the Ministry’s stimulus package programme and subsequently the one district, one factory (1D1F) initiative using its subsidiary company, Nano Foods Limited”.

Also, the promoters had used part of the disbursed amount to refurbish the company’s premises at Nsawam but would require an additional amount of five hundred thousand Ghana cedis (GHc 500,000) to complete the refurbishment due to cost overrun.

This was when Member of Parliament for Nsawam-Adoagyiri Frank Annoh-Dompreh sought to know plans by the Trade Ministry to revive the Nsawam Astek Company Limited to give job opportunities to the youth of the area.

Mr. Kyeremantey further told the House the company has secured orders to export canned sliced and chunked pineapples to Spain, USA and Egypt under its new name and the company would produce and supply fresh pineapple juice.

Youths of Nsawam-Adoagyiri and its adjourning communities would get sixty (60) direct jobs and two hundred (200) indirect jobs, as the company would purchase the produce of pineapple farmers or out-growers in the community to complement supply from the company’s nucleus farm.

And further pledged the Ministry’s support of incentives services earmarked for 1d1f companies and also assign a consultant to work with the business promoter to enhance operational performance for the achievement of the company’s objectives.