Nu Agri Asia Corporation of the Philippines is to invest $250 million in the agriculture sector of Ghana to boost sugar production. This was part of the corporation’s desire to expand its investments in Africa.

Lead investor and president of Jose Global Consulting Limited, Dr Matins Abhulimhen, in a press release yesterday said of the amount, $129 million will go into the establishment of a sugar mill to process 10,000 tonnes of crushed sugarcane daily, whilst the remainder will go into the setting up of a 1 million coconut-per-day and multi-fruit processing units.

Abhulimhen said the investment is a joint venture between the Government of Ghana, Nu Agri Asia Corporation and its local partner Ghanol Ltd.

He pointed out that the investment represents a transformative opportunity to modernize Ghanaian sugar production as well as the processing of coconut and fruits into a variety of products to serve both the domestic and international markets.

He further stated that, “Altogether, these projects will establish a globally competitive agro-industrial platform.

“The three processing facilities shall be located on a 40-hectare land area alongside a 10-hectare solar farm for power supply. In addition, the bagasse, which is the residue of crushed cane, should be combusted under environmentally controlled conditions to provide energy to run/power the boilers.

“The raw materials for processing shall be sourced via an out-grower scheme where producers shall be organized into manageable cooperatives. To enhance inclusiveness, these cooperatives altogether be offered a shareholding arrangement in the venture.”

The Minister of Agriculture of Ghana, Hon. Eric Opoku commended Jose Global Consulting Limited and Nu Agri Asia Corporation for bringing such investment to boost the economy of Ghana and to reduce the importation of sugar into the country.

He added that with the establishment of sugar mills, Ghana will now be able to export sugar to the rest of the world and neighbouring countries.

Abhulimhen also stated that, in recognition of its strong intent to foster a mutually beneficial relationship with the out-grower community, Nu Agri Asia Corporation is rolling out a Corporate Social Responsibility program in the following areas – mobile clinic services, education, micro-enterprise grants and agricultural training programs, among others.

He stressed that the investment is a win-win model for the investor on one hand, and the farming community on the other. The investment includes Sugar Mill, coconut and multi-fruit processing, energy production, shipping pallet production from coconut husk, cold storage and, Admin, employee services.

He said the projects, besides creating much-needed employment, also give a voice to the cooperative farmers per their shareholding structure.

He noted that the planned CSR program assures a marked improvement in the standard of living of people living in these communities.

According to him, Jose Global Consulting Limited has also facilitated a $208 million investment in the housing sector in Ghana to alleviate the ever-increasing housing deficit in the country.

Other areas of investment by Jose Global in Ghana include ethanol production, quarry mining and hotel development.