Two Ghanaian companies, Unik Dezines Ltd and SpeedGold Ghana Limited have signed a Memorandum of Understanding with a group of Chinese Investors to assemble farming equipment and other manufacturing ventures.
The Chinese investors were in Ghana for a presentation and to sign a Memorandum of Understanding for the construction of 10 multi-million dollar factories by the end of the year.
The factories would assemble farming equipment, including tricycles and Tarpaulins and also go into the production of salt and sugar as well as socks and towel manufacturing.
Mr Dennis Anderson, Chief Executive Officer of Unik Dezines and Peng Ye Zhen, Chairman of Haige Industries, China, singed the agreement in the
presence of officials from the Chinese Embassy in Ghana.
Mr Anderson said an initial investment of over 300 million dollars had been earmarked for the projects, which would employ about 1,000 Ghanaians.
He said the factories would be sited across the country, especially where the firms could reach out easily to the West African markets.
Mr Kofi Attor, a government official, who chaired the function, asked agencies responsible for facilitating the work to help speed up the process to ensure the project got underway by the close of the year.