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$3 million tomato paste production factory to be built in Ghana as part of 1D1F project.

Ghana’s Deputy Minister for Trade and Industry, Robert Ahomkah Lindsay, yesterday commissioned the construction of a $3 million tomato paste production factory, Leefound Food Stuff Company Limited, in the Ningo-Prampram district of the Greater Accra region in Ghana. This is part of the government’s resolve to establish at least one medium to a large-scale factory in all the 254 districts in Ghana, under the One District, One Factory (1D1F) initiative.

Leefound Food Stuffs Company Ghana Limited was incorporated in January 2018. Two months later, it applied to join the 1D1F initiative as one of its self-financing projects. The project is a joint venture partnership between Grand Rise Food Company Ghana Limited and Tianjin Limmin Condiments Company Limited of China, who both made an initial investment of $3 million to the project. Additional capital investment is scheduled to be made as the project progresses.

Tomato paste

Following through with the government’s desire to improve local economies through the 1D1F initiative, the Ministry of Trade and Industry is collaborating with the management of the company to ensure that the raw materials required for the factory’s operations are sourced locally from Ghanaian farmers in order to create an effective value chain. A total of 140 locals will be directly employed by the company and another 500 will be indirectly involved in operations when the factory commences fully. Also, traders in Ghana will be given opportunities to be part of the marketing chain and sell the company’s various products.

The factory is expected to be completed by the end of this year and will produce an estimated three hundred containers of tomato paste a month, spices and other foodstuffs for Ghanaian and sub-regional markets at full capacity.

As part of the project, the Deputy Minister explained that two other collaborative investors are building ancillary factories to produce cans and cartons. He added that the investors operate under the name The Tianjin Yangzhiguang Materials Co. Limited and Hebei Yangzhiguang Materials Co. Limited.

President of the Ghana Chinese Business Association, Tang Hong, relayed the Chinese Investment Community’s confidence in the government of His Excellency, President Nana Akufo-Addo and said the Chinese community in Ghana would work hard to attract more Chinese investors into the country.

This story was originally  published on www.http:///venturesnews.com, to read the original story, please visithttp://venturesnews.com.

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