Juaboso Agro Processing Company (JAPC), a joint Ghanaian/American business is said to be investing US$70 million in the production and export of 7,000 tonnes of plantain chips annually to the United States (US) and the European Union (EU) countries.
The company had already secured 6,000 hectares of land for the cultivation of plantain and the building of a state-of-the-art factory at Ampabame in the Ejisu-Juaben Municipality.
Chief Executive Officer of the company, Mr Maxwell Agyemang, told a stakeholders meeting in Kumasi that when fully operational, it would provide direct employment to over 1,000 people.
He said the company has a 10-year export contract to supply the US market and should be ready with the first deliveries by September, 2016.
Present at the meeting were officials from the Ghana Export Promotion Council (GEPC), Forestry Commission, Kwame Nkrumah University of Science and Technology (KNUST), and foreign partners.
The JAPC is 90 per cent Ghanaian and the remaining 10 per cent shares held by the Americans.
Agyemang noted that, the country had huge potential for plantain chips production which would be fully developed to bring in more foreign exchange and grow the economy.
The global snacks food market as forecasted by “Global Industry Analysts Incorporated”, an international research firm is to hit US$334 billion by the end of this year.