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New textile factory to come up in Ghana with Chinese help
08
Nov '16
A new textile factory will be set up in Ghana's Savannah Accelerated Development Authority (SADA) zone at a cost of $300 million. SADA and the China National Textile and Apparel Council (CNTAC) have signed a MoU in this regard. For cultivation and processing of cotton, the main raw material for the factory, CNTAC had already purchased 5,000 acres of land.

The MoU was signed by ambassador Kwesi Quartey, secretary to the Ghana president and CNTAC vice-president Xu Yingxin, Ghanaian media reported.

Yingxin said that the agreement would not only be beneficial to both parties, but would also lead to the strengthening of relationship between the two countries.

Ghana government had established SADA to develop Savannah Ecological Zone. SADA was one of the flagship initiatives of the Ghana government aimed at fast-tracking the development of the northern, upper east and upper west regions of the Savannah Ecological Zone and the northern parts of the Brong Ahafo and Volta regions, said Quartey.

He added that SADA is an initiative to facilitate the development of the Savannah Ecological Zone which is deprived to bridge the development gap between the area and the southern sector of the country. (RR)

 

Fibre2Fashion News Desk – India

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