President John Dramani Mahama has announced plans to modernise the defunct Volta Star Textiles factory at Juapong, revealing that government is finalising arrangements with a transaction adviser to bring in a strategic investor to revive the factory.
The President made the announcement during the sod-cutting ceremony for the 24-hour market project at Juapong in the North Tongu Constituency on Thursday, July 16.
According to President Mahama, the revitalisation of the factory forms part of government’s broader industrialisation agenda aimed at creating jobs, strengthening the textile value chain and transforming Juapong into a thriving manufacturing hub.
“The revitalisation of this factory will create sustainable jobs in the Juapong area, it will strengthen Ghana’s textile value chain and it will reposition Juapong as a vibrant industrial hub, complementing our broader investment in agricultural commerce and infrastructure,” he said.
The once-thriving textile factory, which employed thousands of workers and produced fabrics for decades, has remained largely dormant in recent years, leading to the loss of more than 2,000 jobs.
President Mahama also disclosed that government is in discussions with the Government of Benin to secure supply of cotton to feed the factory when production resumes.
“Arrangements are being made to sign a Memorandum of Understanding with the Government of Benin to supply us with cotton from Benin to feed the factory in Ghana,” he announced.
He further assured traditional leaders and former workers of the company that a strategic investor would soon visit the facility to commence the design and modernisation process.
“I wish to inform Togbui and the workers of Volta Star Textiles Limited that very soon the transaction adviser is bringing the strategic investor to visit the factory and start the design for modernising the factory,” the President added.
