Feasibility studies have been completed on five-acre land at Akyem – Wenchi in the Demkyembour District of the Eastern Region to pave way for the establishment of an oil palm factory under the One District, One Factory’ policy of government.
The project, expected to start soon, was initiated by Kobe Marine Corporation (KMC), a Japanese company, which signed Memorandum of Understanding (MoU) with the Demkyembour District Assembly last year.
The Minister of Trade and Industry, Alan Kyeremanten has given the approval for the project to begin.
The factory, when completed, would produce large quantities of oil palm for export.
Paul Kwabena Amaning, consultant to the project, and Managing Director of PMKF Ghana Limited, encouraged the Japanese company to sign the MoU.
He said through the School Feeding and Free Senior High School (SHS) programmes, President Akufo-Addo and the CEO of the National Food and Buffer Stock, Abdul Wahab, have empowered the farmers to grow more than 100,000 palm seedlings.
Speaking to BUSINESS GUIDE after touring the site with some Japanese officials over the weekend, Mr Amaning said the benefits would be enormous, with several jobs for the unemployed youth.
He emphasised that the Japanese investors would also establish factories in other parts of the region.
“Currently, they have finalized everything to established a palm oil processing factory at Akwatia, an assembly plant for repackaging of mobile phone boxes, sanitation plant to recycle waste into products for export, and a Bambo factory at Bunso in the East Akim Municipality,” he stated.
KCM, he indicated, has expertise in palm oil processing since it has been operating in Malaysia and Indonesia.
Mr. Amaning said the company would also venture into the manufacture of fertilizer and bio-fuel.
The Japanese government delegation, led by Prof. Kiyozo Okada, Minoru Mori, Takeshi Ryo and Arisa Hachiya Ismail, last year visited Akwatia to hold a meeting with the authorities of Denkyembour District Assembly and other stakeholders which led to signing of the MoU.
Dr. Kwadwo Samuel Frimpong, Economic Advisor at the Office of the President, earlier disclosed that the project falls in line with the NPP’s policies.
Seth Birikorang Ofosu, the District Chief Executive (DCE), who signed the MoU on behalf of the Assembly in the presence of Mercy Adu Gyamfi, Member of Parliament (MP) for Akwatia, at the time, assured the investors the people of the district would support the project.
From Daniel Bampoe, Akyem – Wechi