MoU signed to revive jute factory

THE Ghana Cocoa Board (Cocobod) has signed a Memorandum of Understanding (MoU) with Ganges Jute Pvt Limited (GJPL) of South Africa, to pave the way for the revival of the jute factory in Kumasi.
Under the agreement, Cocobod would provide the premises while GJPL South Africa, which is a subsidiary of GJPL India, would offer the needed financial support, training, equipment and technology for the smooth running of the factory at a cost of $6 million.
At the ceremony, the Chief Executive of COCOBOD, Mr Isaac Osei, said the MoU was part of the initial stages in a final agreement that would see to the establishment of the factory, noting that the factory would bring in a lot of foreign exchange to the country.
He said GJPL was Cocobod’s main importer of jute bags for the cocoa industry in Ghana and they had been in contact for sometime now to see to the establishment of a processing plant.
According to him, seven of Cocobod’s warehouses in Kumasi would be rehabilitated for work to begin on the factory, which would initially start with the stitching of raw materials imported into the country into jute bags to meet growing demand.
He said it was anticipated that the establishment of a jute factory in Ghana would be very cost-effective for the cocoa industry and also provide a lot of job opportunities for residents in that community.
The Director of GJPL, Mr Abhishek Poddar, disclosed that the factory would create an initial 300 job opportunities.