Kasapreko acquires 40% shares in cassava plantation (Ghana)

A joint venture between Kasapreko Company Limited and Caltech Ventures Company Limited has resulted in the acquisition of 40% shares of a cassava plantation, at Hodzo, in the Volta region. The investment is said to be inspired by Kasapreko’s strategic objective to be a total beverage production company by 2016. Deputy managing director, Kojo Nunoo said that the project would support the company’s import substitution strategy, and confirm its position as a prime local manufacturer that predominantly uses local material in production. He added that when the project commenced in May 2015, they would get three million litres of alcohol a year from cassava. “We currently import over 25 million litres of alcohol annually so with this project on stream we hope to cut down our imports of alcohol by 50%,” he said.

The project will also provide liquefied carbon dioxide and cassava flour, enough to produce starch-adhesive to feed a corrugated carton plant being assembled in Accra.

“Kasapreko is in the process of acquiring a fully automated carbonated soft drink bottling plant and will obtain the CO2 from the Caltech project,” Nunoo noted.

Managing director of Caltech Ventures, Chris Quarshie, said the project would have a strong social impact on the Hodzo community, because it would provide massive employment for people in the surrounding community, and that they would generate about 600 megawatts of power from the cassava waste, using gasification technology, of which only about 250-300eKW would be used for its own operations, and the rest will be pushed to the national grid. – MyJoyOnline