Cape Coast, Feb. 18, GNA – Mr Perry Mensah, the Executive Director of the defunct Ameen Sangari Company Limited, has disclosed that it had received a loan of GHC6.
1 million for the first phase of the revamping of the Factory to begin production by close of February this year.
He said it initially requested for an amount of GHC7.456 million through the Government’s one District one Factory(1D1F) initiative to enable it to begin with the Kernel Oil production to help revive the factory but the former figure was approved.
Mr Mensah made this known when Mr George Kweku Ricketts-Hagan, the Cape Coast South Member of Parliament (MP) and Dr Kwamina Mintah Nyarko, Cape Coast North MP paid a courtesy call on the company to inspect the facility and deliberate on ways to improve the revamping process.
The Executive Director, assured the two National Democratic Congress (NDC) MPs that it will speed up the preparatory process underway, to pave the way for the revamping to be done in phases to accelerate development for improved standard of living of the people in Cape Coast and the country as a whole.
Mr Mensah said the phase one comprised of Palm Kernel Oil and Palm Oil productions which have ready markets to help the Region’s oldest factory, to earn more income to support reinvigoration exercise.
More than 60 people have so far been employed and more will be engaged as the factory expands to help reduce the unemployment burden in the Metropolis, Mr Mensah revealed.
The other phases will include the processing of soap, vegetable oil, detergents as well as teak for electricity poles.
He said reviving the company’s operations was critical, especially amid COVID-19, where every country was concentrating on their local industries to enhance job creation to stimulate economic growth.
The company had operated in the Metropolis for close to eight decades and had more than 600 workers, but had to downsize the workforce due to the high cost of power, pilfering and administrative challenges.
Mr Ricketts-Hagan explained that their visit was not political but to partner the company in its agenda to revive it to improve youth development as the company will absorb many unemployed people in the Metropolis.
He commended the Government for the move to industrialise the local economy to help enhance the lives of the people of Cape Coast and pledged his office’s commitment to support the company in that regard.
Dr Mintah Nyarko on his part, said the company when fully operational, will help better the lives of the populace and reduce the crime and unemployment rates in the area.
He said the company’s existence will increase sales and boost the local economy to enable the people meaningfully contribute to the socio-economic development of the country.