Cocoa sector to receive boost from Quantum Terminals
Ghana’s cocoa processing sector is expected to receive a major boost as Logistics Company, Quantum Terminals plans to establish a US$80million cocoa processing plant in Tema.
The project which is currently ongoing would have a production capacity of 64,000 metric tonnes when fully completed, and seeks to add value to the products which is often exported in its raw form. The company had started with the first phase of the project which will process 32,000 metric tonnes and the second phase would start once the plant becomes operational. Executive Chairman of Quantum Terminals, Mr Emmanuel Egyei- Mensah said, “we already have the company set up and the project is ongoing. We are going to build a cocoa processing plant and it will be located in Tema.”“We are building a 64,000metric tonnes processing plant. We are starting with phase one which is 32, 000 metric and once it is operational we will start with the second phase of 32,000. We are investing US$80 million in this project,” he said in an interview after the company listed a 10-year corporate bond on the Ghana Fixed Income Market of the Ghana Stock Exchange (GSE).He said the focus on the cocoa sector was part of efforts to support government’s industrialisation agenda and to create jobs. “We are always looking for opportunities to invest and as you are aware, government is pushing processing as part of the ‘One District, One Factory’ project that is going on and we think the cocoa processing sector is good place to invest in,” he said. Job creationMr Egyei-Mensah said the company had got to a stage where it is focusing on job creation to augment what government was currently doing and the cocoa sector project was going to help in that regard. “The number of jobs that government can create is limited and the private sector that can help. It rests on entrepreneurs like us to do what we have to do to create jobs. Through this project, we can create more jobs for our people. We have reached the stage where we are becoming more social on how to create jobs,” he said. The next levelThe company, he explained, would pursue a strategy that will enable the distribution of LPG to more people and in line with that will invest US$52million to build the refiling plants in three areas; Atuabo, Tema and Kumasi to support the government objective of moving everyone unto the cylinder recirculation system which is much safer than the model currently being operated. “We are following up with the second strategy of now enabling the distribution, we can make it available to people who are not able to access LPG. LPG is a migration from using firewood and charcoal and that will save the environment as well as the health of the people,” he said. He added “when you see the smoke our mothers inhale while using firewood in the kitchen, once you migrate them on to the LPG, there is a lot of savings in terms of health for personal as well as government health budget because they don’t have to go to the hospital that much.” — GB