Please note: you are viewing an old version of this deal. The current version can be found here: Deal #6620

Deal #6620 Version #76374

Ghana

Created at

2018-11-26

Last update

2020-06-16

Last full update

2024-02-22

Land area

Size under contract (leased or purchased area)

[current] 3000.0 ha

Intention of investment

[current] Biomass for biofuels, Food crops, Renewable energy unspecified

Comment on intention of investment

Sugarcane factory: sugar, ethanol and power generation

Nature of the deal

Comment on nature of the deal

PPP. Compulsorily acquired as a state land Sugarcane will be produced from both the state's nucleus farm and also through outgrower schemes. In total over 6,000acrs are required for supply sugar cane to the factory

Negotiation status

[2019, current] Concluded (Contract signed)

Comment on negotiation status

originally commenced in 1960. Rebuild in 2016 but fell into disuse. New strategic investor signed up in 2019 who will start activities in 2020. Ran as a PPP

Implementation status

[2016] Startup phase (no production)
[current] Project not started

Comment on implementation status

Factory was opened in 2016, now project is on hold due to lack of raw material to feed the factory and financial issues. Project not abandoned, investors are trying to revive it.

Purchase price

Comment on purchase price

Over the first three years of the agreement, Park Agrotech will invest US$28 million in capital expenditure and working capital, including paying an annual concession fee of US$3.3 million for a period of 15 years (https://www.newsguideafrica.com/2020/06/komenda-sugar-factory-to-resume.html)

Contract farming

Yes

Not on leased / purchased (out-grower)

Yes

Not on leased area/farmers/households (out-grower)

[current] 7500

Comment on contract farming

SEFTECH Ltd was contracted to develop 50 acres of sugarcane nursery (2016)