Volta Star Textiles Limited set for revival as investor selected -President Mahama
Government has selected a strategic investor to partner in reviving Volta Star Textiles Limited, a factory that for many years represented hope, employment and industrial progress for thousands of families in Juapong and beyond.
President John Dramani Mahama disclosed this during the sod-cutting ceremony for a 24-hour economy market at Juapong.
“I am pleased to announce that significant progress has been made. A transactions advisor was appointed, strategic investors were invited to submit proposals, and one investor has been selected to partner government in reviving the factory,” he said.
He said the strategic investor would soon visit the factory with the transaction advisor to begin preparations for modernising the facility and returning it to productive operations.
“The revival of Volta Star Textiles Limited will create jobs, strengthen Ghana’s textile value chain and reposition Juapong as an important industrial hub,” he added.
President Mahama said arrangements were also being made to sign a Memorandum of Understanding with the government of Benin to supply cotton to support the operations of the revived factory.
He noted that Government was determined to restore the legacy of the factory through strategic partnerships, investment mobilisation and modernisation of its operations.
He linked the factory’s revival to the broader economic transformation underway in Juapong, noting that the community’s fertile lands, hardworking people and strategic location in the eastern part of Ghana positioned it well to benefit from renewed industrial activity.
He explained that the ongoing construction of a 24-hour economy market in the town, together with the Volta Economic Corridor initiative, would reinforce Juapong’s role as a centre of commerce and industry in the region.
Richard Aniagyei, ISD
