The Hi limit Group, developers of government’s one village one dam programme has signed a purchase agreement to revive the defunct Komenda sugar factory.
Under the agreement, The Hi Limit Group will produce 375,000 metric tonnes of sugar cane annually to feed the sugar factory.
The agreement signed under the auspices of the Ministry of Trade and Industry follows an assessment conducted on the factory which revealed that the lack of raw material was the major reason the factory was not operational.
Mr Emmanuel Larbi, Chief Executive Officer of the Hi Limit Group, told the GNA that his organization is investing about 78 million dollars in the factory to ensure it becomes vibrant.
“We are going to employ about 23, 000 youth who will cultivate the B41227 variety of sugar cane using an irrigation technology which will ensure an all year-round supply.”
Mr Larbi said similar state-owned factories that have been shut down due to the lack of raw materials will benefit from the programme which will inspire the youth to produce large quantities of a variety of crops.
The one village, one dam Integrated Agricultural with Renewable Energy for Poverty Eradication Programme (IAREPE) will ensure 440 units of dams and irrigation schemes.
Mr Larbi said per the agreement, Hi Limit will also establish a training and development centre in Komenda for maintenance, mechanics and agriculture in order to transfer technology
The IAREPE project will also provide raw materials for agro processing and manufacturing, Mr Larbi said