Astek set for 1D1F operations by April 2020

Astek set for 1D1F operations by April 2020

Astek Company Limited located at Nsawam in the Eastern region, one of the One-District-One-Factory, (1D1F) companies is set to commence operations in April 2020.

That’s according to the Trade and Industry Minister, Alan John Kwadwo Kyerematen when he appeared on the floor of Ghana’s parliament, November 8, 2019.

The company has so far secured an order to export Canned Sliced and Chunked Pineapples to Spain, USA and Egypt under the new brand name Nano Foods.

With regard to the local market, the company will produce and supply Fresh Pineapple Juice.

Responding to a Parliamentary question asked by MP for Nsawan-Adoagyiri, Frank Annoh-Dompreh,  The Sector Minister, Alan Kojo  Kyeremanten said, “the company will create a minimum of sixty (60) direct jobs and two hundred (200) indirect jobs for residents particularly for the youth of Nsawam-Adoagyiri and the surrounding communities”.

In addition, the company will purchase the produce of pineapple farmers or outgrowers in the community to complement supplies from the company’s nucleus farm which will enhance their incomes and improve their livelihoods, the Minister added.

Astek Company Limited located in Nsawam in the Eastern Region was one of the first companies that expressed interest to be part of the Ministry’s Stimulus Package Programme and subsequently the One District One Factory (lDlF) initiative using its subsidiary company Nano Foods Limited.

The company applied for an amount of GH¢5,444,760.00 from EXIM Bank consisting of capital expenditure of GH¢2,639,760.00 and a working capital of GH¢2,805,000.00 which was approved.

The Trade Minister disclosed that, “the capital expenditure component of the amount, GH¢2,639,760.00 has been disbursed to the company, with the working capital component still outstanding.

The Promoter has therefore ordered a 600MT per annum pineapple processing equipment that is scheduled to arrive in January 2020 for installation, to enable the company commence operations in April 2020.

Mr. Kyeremanten assured that, the Ministry will continue to provide all the incentives and support services earmarked for lDlF companies for successful operations.

Source:  Edzorna Francis Mensah||gbcghanaonline.com