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30.09.2005 Business & Finance

Second phase of CPC's expansion programme takes off next month

By GNA
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Tema, Sept. 30, GNA - The second phase of the expansion programme at the Cocoa Processing Company (CPC) in Tema, takes off next month. On completion, the Company would be expected to increase its annual production capacity from 25 metric tonnes of cocoa beans to 65 metric tonnes.

Mr Richard Amarh Tetteh, Managing Director (MD) of the Company made these disclosures when the nine-member Iranian delegation currently on a visit to the country, visited CPC to acquaint itself with work there. The delegation, which is made up of both the public and private sectors, is in the country on a five-day reciprocal visit to one paid by Sheikh Ibrahim Cudjoe Quaye, Greater Accra Regional Minister to the Province of Yazd in May, this year.

Mr Tetteh told members o the delegation that on completion of the expansion programme within the last quarter of next year, revenue from processed cocoa beans would increase from 35 million dollars to over 100 million dollars per annum.

He explained that the Company's expansion programme, which started in January, last year, was in line with the President's objective of ensuring that most of the country's cocoa was processed. The MD hoped the visit of the delegation from the Islamic Republic of Iran, aimed at exploring avenues or areas of investment opportunities in Ghana would go a long way to further strengthen the cordial relationships between the two countries for the mutual benefits of their nationals.

Replying, Mr. Seyed Hamid Kalantari, Governor of Yazd Province and leader of the delegation, lauded CPC for its strategic position in Ghana's economy. The delegation also visited Ghana Ports and Harbours Authority.

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