Nu Agri Asia Corporation of the Philippines has announced a $250 million investment in Ghana’s agriculture sector, with a major focus on boosting sugar production. The move is part of the corporation’s broader plan to expand its footprint across Africa.
According to Dr. Matins Abhulimhen, lead investor and president of Jose Global Consulting Limited, $129 million of the total investment will be used to establish a sugar mill capable of processing 10,000 tonnes of sugarcane daily. The remaining funds will go into setting up processing plants with the capacity to handle one million coconuts a day, along with multi-fruit processing units.
Dr. Abhulimhen explained that the investment is a joint venture involving the Government of Ghana, Nu Agri Asia Corporation, and its local partner Ghanol Ltd.
He said the initiative will modernize sugar production in Ghana while also supporting large-scale processing of coconuts and other fruits into a range of products for both local consumption and export.
“This project will build a competitive agro-industrial base in Ghana,” Dr. Abhulimhen noted.
The facilities will be located on a 40-hectare site, alongside a 10-hectare solar farm to supply renewable power. In addition, bagasse, the residue left after crushing sugarcane, will be used under controlled conditions to generate energy for running the boilers.
