The Ghana Export and Import Bank (EXIMBANK) is to extend
a $1 million loan facility to ASTEK Company Limited to revamp the fruits
processing operations of the company at Nsawam in the Eastern Region.
The loan which was facilitated by the New Patriotic Party (NPP) Member of
Parliament (MP) for Nsawam-Adoagyiri, Mr Frank Annoh-Dompreh, will be used to
procure fruits processing machines and other equipment to pave the way for the
start of operations in September, 2019.
The resuscitation of the ASTEK company, which forms part of the One-district,
One-factory policy, is to create jobs for the teeming youth at Nsawam and surrounding
communities.
ASTEK, which began fruits processing work in 1982, shut down its operations in
2009 as a result of financial challenges.
Mr Annoh-Dompreh inspected the factory last Monday to see to the readiness of
the company ahead of the release of the $1 million loan facility.
In his remarks, the Managing Director of ASTEK, Mr Albert Owusu, said during
its peak period, ASTEK produced Refresh fruit juices and mineral water.
However, he said the company “ran into turbulence but maintained a skeleton
staff.”
Mr Owusu said ASTEK submitted a proposal to the Ghana EXIM Bank, and indicated
that with the help of Mr Annoh-Dompreh, the proposal had been accepted and the
agreement signed between EXIM Bank and ASTEK for the release of $1 million for
the fruits processing project.
He said the company had also signed a memorandum of understanding (MoU) with
outgrower farmers in Nsawam-Adoagyiri and Akuapem South to ensure the regular
supply of pineapples and oranges to the company.
Mr Owusu said the processed pineapple and orange juices and slices would be
exported to the United States of America (USA), Spain, Central Europe and some
African countries.
He said the company would be processing 50 tonnes of fruits daily at the
initial stage.
He added that 50 workers would be employed immediately and indicated that the
number of workers would be increased four folds if the operations gained
momentum.
Campaign promise
Responding, Mr Annoh-Dompreh said he made a pledge prior to the 2016 election
that he would secure funding to revive ASTEK to restart its fruits processing
work.
He added that after retaining the Nsawam-Adoagyiri seat, he made a strong point
to the Ghana EXIM Bank that ASTEK had “the inherent capacity” to
process fruits for exports.
Mr Annoh-Dompreh, who is the Chairman of the Committee on Foreign Affairs in
Parliament, said the idea was to promote economic activity and create jobs for
the youth in Nsawam and surrounding areas.
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