Nu Agri Asia Set to Invest $250 Million into Agriculture Sector in Ghana

Nu Agri Asia Corporation of The Philippines is seeking to invest an amount of $250 million into the agriculture sector of Ghana. Of the said amount, $129 million shall go into the establishment of a sugar mill to process 10,000 tonnes of crushed sugarcane daily whilst the remainder shall go into the setting up of a 1 million coconut-per-day and multi-fruit processing units.

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

Commenting on the investment, the Group Head of Nu Agri Asia, Mr. Daniel Baron 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 went on to add, “altogether these projects establish a globally competitive agro-industrial platform”.

All 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 shall 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 shall be offered a shareholding arrangement in the venture.

In line with environmental sustainability, waste such as coconut shells and its shells shall be processed, eventually, into bio-degradable products. The husk of the coconut shall be used in the production of durable pallets whilst the shells will go into the production of activated charcoal.

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

The CEO of Ghanol Ltd., Mr. Gameli Nudanu noted, “this is a win-win model for the investor on one hand, and the farming community on the other. The projects, beside creating much needed employment, also gives a voice to the cooperative farmers per its shareholding structure. Additionally, the planned CSR program assures a marked improvement in the standard of living of people living in these communities”. The construction of the facility is expected to be completed within 27 months.