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16.08.2005 Business & Finance

Review Company Feasibility Studies - SIPL Management told

GNA

Daboase (W/R), Aug. 16, GNA - President John Agyekum Kufuor on Monday directed the management of the Subri Industrial Plantation Limited (SIPL), established to produce pulp and paper to review its partnership with COMPLAN, a Chinese company to determine the company's viability. He said the partnership could begin with a new feasibility studies, adding, "when we convince ourselves with your new feasibility studies for assistance, then the Government would source for the needed funds. "This is a cause worth supporting, if not possible then we cannot put public money into it; it is a viable venture and the company has the capacity to deliver".

President Kufuor gave the directive at a meeting with the Management at the company's premises at Daboase in the Mpohor Wassa East District, as part of his four-day tour of the Western Region, Dr. Andrews Duah Boateng, Managing Director of the company told the meeting that a memorandum of understanding had been signed with COMPLAN to undertake feasibility studies of the company that is under divestiture.

He said about six million dollars would be required to reactivate the machinery and equipment of the company to begin production. Dr Boateng said the machinery and equipment, purchased in about 15 to 20 years ago, had become obsolete.

Addressing the workers of the company later, President Kufuor said the company could not be allowed to go waste; therefore, some embassies in the country would be contacted to see whether they could provide some appropriate technology for the company.

He appealed to them to be patient and not to take the law into their hands to destroy machinery and equipment of the company. "It is not the Government's or your fault that the place is in this mess", he said.

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