The historic Volta Star Textiles Restricted, previously Juapong Textiles Restricted, is making a daring attraction for revival because it seeks an funding between $25 million and $100 million to revive full operations.
As soon as a cornerstone of Ghana’s textile trade, the manufacturing unit, situated in Juapong within the North Tongu District, had a manufacturing capability of 20 million yards each year at its peak.
Talking on the launch of the seventh Volta Commerce and Funding Truthful, Managing Director of Volta Star Textiles Restricted, Mr Jerome Kwaku Dunyo, outlined administration’s complete plan to resuscitate the textile large. He stated the corporate has ready a versatile marketing strategy requiring $100 million for full restoration and modernisation, although an funding of $25 million may restart operations on a smaller scale.
The occasion, themed “Volta Rising: Constructing World Partnerships for a Thriving 24-Hour Economic system,” was organised by the Volta Regional Coordinating Council (VRCC) in collaboration with the Affiliation of Ghana Industries (AGI). The venue, Volta Star Textiles itself, was intentionally chosen to symbolise the area’s industrial heritage and its potential for financial transformation.
Volta Regional Minister James Gunu underscored the strategic significance of reviving the manufacturing unit, aligning it with Ghana’s new industrialization drive. He stated the initiative helps the 24-hour financial system coverage outlined within the 2025 finances, which is backed by an preliminary $300 million funding and goals to draw $4 billion over the subsequent 4 years.
He defined that the coverage is predicted to stimulate industrial development, create 1.7 million jobs, and place Ghana as a globally aggressive, round the clock financial system. For the Volta Area, he highlighted the revival of Juapong Textiles and the event of a 24-hour Industrial Park in Adaklu on 1,500 acres of secured land as key alternatives to drive manufacturing, logistics, and exports.
The Malaysian Excessive Commissioner to Ghana, H.E. Nauzer Idid Syed Yuroff Idid, pledged his nation’s readiness to help the initiative, describing the honest as a significant bridge between Ghana and worldwide companions.
Chief Government Officer of the Volta Commerce and Funding Truthful, Mr. Fred Avornyo, additionally inspired native and worldwide buyers to grab the chance to accomplice, develop companies, and rework livelihoods.
Volta Star Textiles Restricted, established in 1968 as Juapong Textiles Restricted, was a central a part of Ghana’s post-independence industrialization agenda. At its peak, the manufacturing unit produced over 20 million yards of textiles yearly for each home and export markets. Nevertheless, years of economic challenges, operational difficulties, and competitors from imports crippled operations, decreasing the corporate to close inactivity.
Now in its seventh version, the Volta Commerce and Funding Truthful continues to function a flagship regional platform for commerce promotion, funding attraction, and partnership constructing. The honest has advanced right into a hub for innovation, cultural trade, and regional financial integration, highlighting alternatives throughout agriculture, manufacturing, and tourism.
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DISCLAIMER: The Views, Feedback, Opinions, Contributions and Statements made by Readers and Contributors on this platform don’t essentially symbolize the views or coverage of Multimedia Group Restricted.
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