Japanese company to establish palm oil processing factory

Akwatia (E/R), Japanese Company, Kobe Marine Corporation (KMC) has signaled its readiness to establish a palm oil processing factory in the Denkyembour District in the Eastern Region.

A memorandum of understanding has already been signed between the company and the district assembly.

This ties in with the government’s one district one factory policy.

Mr. Paul Kwabena Amani, Managing Director of PMKF Ghana Limited, who wooed the Japanese company to the area, said the benefits would be enormous.

KCM, he indicated, was well-endowed, had the expertise and tremendous experience in palm oil processing.

It had been operating in Malaysia and Indonesia and that the nation’s economy stood to gain from its presence.

Mr. Amani said it would start with palm oil production and then move into other things including the making of dried fertilizer and bio-fuel or refined fuel.

He underlined the need to scale up the drive to attract more foreign investors, to bring in the technology and expertise to grow local businesses.

He said they were engaging the Ghana Small Scale Oil Palm Producers Association to aid them to acquire loans from MASLOC to establish oil palm nurseries and plantations to assure the factory of raw materials supply.

He said KCM had targeted to establish five factories in the Eastern, Brong-Ahafo and Volta Regions by year 2020.

Mr. Seth Birikorang Ofosu, the District Chief Executive (DCE), said the assembly was eager to support the farmers to expand their oil palm plantations.

He assured the company of strong support and cooperation.

Osaberima Kofi Boateng III, the Akwatiahene, pledged to make land available to investors.

Source: Ghana News Agency