Cape Coast, Feb. 18, GNA - The Abura-Asebu-Kwamankese (AAK) District will from next July process cassava under the Rural Enterprise Development Programme (REDP) to create wealth for the district under the President's Special Initiative (PSI) in order to improve the lot of its people.
At an investment forum to educate prospective shareholders of the proposed company under the name "Kakum Tropical Starch Company", the National coordinator of the REDP, Dr Akwasi Prempeh outlined the benefits of the projects and urged the district to take full advantage of the programme to enhance accelerated development of the district. The forum, which was held at the University of Cape Coast on Friday, brought together farmers, investors, traditional rulers and officers from the district assembly.
According to the consultant of the project, Mr Anthony Mends, it is imperative for AAK, which is one of the major cassava producing areas in the country to undertake that project, adding that, the district had mobilised about 400 individual farmers within the district to cultivate cassava to feed the factory, which is expected to start production by mid-year.
The proposed company will need about five billion cedis to establish the factory, which will have a plant capacity of 4,000 metric tonnes annually.
He said the traditional authorities had promised to release a one square mile land to the company for cassava cultivation and urged farmers in the district to work harder to feed the plant when it becomes operational because apart from creating wealth, the PSI is also geared towards increasing food production.
He said institutional shareholders; individuals, the district assembly and the various communities would own the company.