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ECONOMICS

Shai- Osudoku get tomato processing factory

The President, Nana Addo Dankwa Akufo-Addo, has commissioned the Leefound Food Stuff (GH) Ltd., a tomato processing factory operating under Government’s 1-District-1-Factory initiative on Thursday.

Date Created : 12/23/2019 5:16:24 AM : Story Author : Ghanadistricts.com

The factory, located at Doryumu in the Shai Osudoku constituency, has been established by two Chinese Companies, Tianjin Limmin Condiments Co. Ltd. and Grand Rise Food Co. (GH) Ltd., to produce tomato paste, tomato ketchup and tomato juice and sauce, for both domestic and foreign markets.

With an initial investment of some $23 million, the company has the capacity to process approximately 60,000 tons of tomatoes annually, with the added potential of creating some 300 jobs at the factory particularly for the youth from Shai Osudoku.

Leefound Food Stuff (GH) Ltd has also indicated its preparedness to source fresh tomatoes locally through the establishment of the company’s own nucleus farm and an out-grower scheme using current technology, including greenhouse farming.

Additionally, the company, in collaboration with research institutions in Ghana, is to develop improved variety of tomatoes in order to sustain its operations, and this will be done through the application of improved seedlings and best farming practices.

This arrangement is expected to offer tomato farmers in the community the opportunity to expand their farms, create opportunities for residents, as well as increase their income levels.

Commissioning the facility, President Akufo-Addo noted that the establishment of the $23 million company is “an expression of the confidence the Chinese and other investors have in the management and direction of the national economy.”

According to President Akufo-Addo, “we have the possibility, from here, to develop a large export market not just for ECOWAS, but, ultimately, when trading in the African Continental Free Trade Area begins, for the African single market. The programme for transformation, allied to value-addition to our agricultural produce, is represented by this factory here today.”

The President expressed his appreciation to the President, Government and people of the People’s Republic of China for the continued investments in Ghana, stating that “it is yet another example of the very strong relations between the People’s Republic of China and the Republic of Ghana. I welcome that relationship, and I am hoping that out of it many, many more investments will come down the line”.

He urged the Chiefs and people of Shai Osudoku to give the management of the company their maximum co-operation, assuring that “Shai Osudoku, like the rest of Ghana, is going to see a serious transformation in the period of Akufo-Addo’s presidency".