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Ganges signs MoU to set up jute bag stitching unit
26
Jul '08
A venture to set up a jute bag stitching factory was agreed upon through a memorandum of understanding (MOU) between the Ghana Cocoa Board (Cocobod) and Ganges Jute Pvt Limited, an Indian jute manufacturing company on July 24.

This jute bag stitching factory is proposed to be set up at Kumasi to reduce reliance on imports of jute bags to pack cocoa. Estimated to cost around one million dollars, the facility would ensure cost savings, facilitate operations and generate employment and foreign exchange for the country.

While the project will be entirely financed by Ganges, Cocobod will contribute by providing a seven-warehouse facility as its share for the venture.

Jute bags formed an important input in cocoa production and local manufacturing of this product would facilitate supply of bags for cocoa packaging. In fact with the bags becoming easily available, it would no longer be necessary to stock huge quantities before hand for every new batch.

Definitive measures are being taken to ensure that the project starts commencement very soon as it is expected to create 300 job opportunities for the locals here.

Ganges Jute Pvt Ltd has already started with the necessary administrative work and is all set to begin with the project. Besides, the company has promised to set-up a five million dollar complete jute manufacturing factory in Ghana, if the present undertaking turns out to be successful.


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