Ghana will set up an assembly facility for agricultural machinery.
The $24.98 million project will get under way right now and be located in the Ashanti Region near Essienimpong.
This comes after the governments of Ghana and India inked a loan deal to be funded by the India EXIM Bank.
Action Construction Equipment Limited of India will carry it out.
The facility will fabricate agricultural tools in addition to assembling tractors and backhoe loaders.
Both the resident representative of the India EXIM Bank, G. Selva Kumar, and the minister of finance, Ken Ofori-Atta, signed on behalf of their respective countries.
The building and installation of the machinery and other civil works, according with the project's implementation timeline, will be finished in 18 months.
For the Ghanaians who will operate the facility, Indian specialists will organise training programmes.
Through the promotion of agricultural machinery use, the initiative seeks to make farm equipment accessible to small and marginal farmers.
Although it will be owned by the Ghanaian government, the facility will be run and managed by a public-private limited liability corporation, under the supervision of the Ministries of Food and Agriculture (MoFA) and Finance.
Mr. Ofori-Atta made a brief statement in which he thanked India for its significant contributions to Ghana's development throughout the years.
He listed a number of significant current projects being backed by India in the nation, including as the $447.172-million, 97.620-kilometer Tema to Mpakadan railway line.
According to him, the project was in keeping with the government's plan to restructure the development agenda, formalise the economy, and enhance the agriculture industry.
He stated that it was anticipated that the initiative will drastically alter the agricultural industry, provide employment, increase incomes, lessen hunger, and contribute in accelerating economic progress.
Mr. Kumar responded by expressing his delight for the project's location in Ghana.
He described the facility as "a game changer for the people of Ghana."
He continued, "We think Ghana may gain from this project as an agrarian economy.
According to Mr. Kumar, the project was chosen by the Indian government and the EXIM Bank as one that might foster cooperation between the two nations.
According to him, the project was in keeping with the government's plan to restructure the development agenda, formalise the economy, and enhance the agriculture industry.
He stated that it was anticipated that the initiative will drastically alter the agricultural industry, provide employment, increase incomes, lessen hunger, and contribute in accelerating economic progress.
Mr. Kumar responded by expressing his delight for the project's location in Ghana.
He described the facility as "a game changer for the people of Ghana."
He continued, "We think Ghana may gain from this project as an agrarian economy.
According to Mr. Kumar, the project was chosen by the Indian government and the EXIM Bank as one that might foster cooperation between the two nations.
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