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Ghanaian cotton sector revival plan gains support
06
Mar '12
Inking of a business deal by three firms to perk up cotton cultivation, has come as a fortification to the Ghanaian Government's assurance for revival of the domestic cotton industry.

Pursuant to the deal, the three firms, Wienco Ghana Limited (Wienco), Volta Star Textiles Limited (VSTL) and Textyles Ghana Limited (TSG), have assured cotton farmers of dividend on their labour and investment.

The firms are seen to upgrade value propositions of domestic inputs and boost the productivity of textile industry.

Under the agreement, TSG is expected to procure one million domestically produced cotton lint, which would then be processed by VSTL into six million yards of grey fabric.

Meanwhile, Wienco has undertaken to grow the area under cotton cultivation by two-fold to raise enough cotton to cater to domestic textile industry. Last year, the firm was allotted a zone in the Upper East Region, with which it supported around 7,000 farmers both in technical as well as financial terms.

Addressing a press meet organized by the Ministry of Trade and Industry in Accra, Mr Daniel Van Wassenhove, Technical Director of TSG said he is positive that the collaboration would prove helpful in revitalizing and sustaining the local textile industry.

VSTL Acting Technical Director, Mr Evans Agyagbo said following the deal, VSTL would see its plant capacity utilisation going up from present 10 percent to 30 percent this year.

Wienco Chief Executive Officer Mr Daniel Ruegg said the time has ripened for introducing a new momentum in Ghanaian textile industry, right from cotton production to sale of domestically made textiles.

Minister of Trade and Industry Ms Hanna Tetteh expressed optimism that revitalization and sustenance of cotton industry would help Ghana to soon develop into a net exporter of cotton.

She also urged the media to intensify awareness generation regarding the consequences that smuggling and pirating of textile goods have on the country's economy.

Fibre2fashion News Desk - India


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