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Business News of Tuesday, 17 July 2007

Source: GNA

Cocoa company to set up processing factory in Ashanti

Accra, July 17, GNA - ADM Cocoa International is to establish a cocoa processing factory in the Ashanti Region. Otumfuo Osei Tutu II, Asantehene, has therefore formed a committee to lead the management of ADM Cocoa International to select a site where the company will establish their factory.

Oheneba Atwereboanda II, Hiahene is the Chairman of the land selection committee, which includes officials of the Environmental Protection Agency (EPA), the Kumasi Metropolitan Assembly (KMA) and a member of the ADM Cocoa International.

Otumfuo Osei Tutu formed the committee when Mr Joe Kenny, Managing Director of the ADM, paid a courtesy call on him at the Manhyia Palace to inform him about arrangements for establishing the factory. A statement received in Accra from the Manhyia Palace said Mr Keeny told the Asantehene that they had made a selection of a site after 18 months of studies of proposals to establish a cocoa processing factory in the Ashanti Region.

He said the most preferable site was the 20-acre land at the abandoned Franko Sawmill.

Otumfuo Osei Tutu charged Hiahene and the committee to complete their job within two weeks and submit a report to him, so that all problems connected with the land acquisition would be addressed, to enable the company to start work without any delay. He said the factory will help create employment for the youth so that they would not idle about.