Ghana is keen to develop a strong Agri-business industry and is encouraging the establishment of manufacturing industries to add value to local agricultural produce.
Cassava is one of the most commercialised agricultural commodities in the country. Ghana produces an estimated 7 million metric tonnes of cassava per year, and is cultivated by over 90% of the farming population. Cassava by-products include chips, flour, starch and ethanol.
The strong potential and demand for the crop has earned it a position under the Special Presidential Initiatives programme.
Investment opportunity: Ghana based Caltech Ventures Ltd is looking for financing to expand its cassava plantation, and also establish a plant to process ethanol and liquefied carbon dioxide from cassava tubers.
Cost of investment:
Total cost of project - US$12 000 000
Equity - US$4 000 000
Project location: Hodzo in Volta Region
Project description: Caltech Ventures Ltd has acquired 2 500 hectares of land in the Volta Region to grow the cassava required for its proposed project to produce ethanol and liquefied carbon dioxide - a by-product of the alcohol production process. The company is currently producing high quality cassava flour from 700 hectares of the land. Caltech expects to produce 30,000
litres of extra neutral alcohol and 22 tonnes of liquefied carbon dioxide per day. The project, when established, is expected to spur the development of other related industries and businesses in the Volta Region, as well as create employment and foreign exchange income.
Incentives
There are incentives on offer such as: Tax holidays (5 years for agro-processing businesses, 0% corporate tax after initial 5 years if based outside regional capitals), 100% tariff exemption on production equipment, 100% profit expatriation; and a stable environment conducive for investment.
For further information on this project contact the GIPC.
Key contact: Stephen Debre
Senior Investment Promotion Officer
Marketing & Public Relations Dept.
Email: sdebre@gipcghana.com
Tel: +233 21 665 125-9
Fax: +233 21 663801
Website: http://www.gipcghana.com
