The Ministry of Food and Agriculture is considering divesting its interest in the Prairie Volta Limited, also known as Aveyime Rice Farm in the North Tongu Constituency to a private commercial rice growing company to help revive the factory.
Government holds 30% shares in the rice factory which was shut down in 2015 following poor performance.
Deputy Minister of Food and Agriculture, Dr. Sagri Bambangi, stated this on the Floor of Parliament today when he appeared to answer questions which stood in the name of the MP for North Tongu Constituency Samuel Okudzeto-Ablakwa on government’s plans to revive the factory.
Pairie Texas Incorporated which owns 40 percent shares in the Factory, according to the Deputy Minister failed to bring the needed working capital to enhance operations resulting in losses in 2011, 2013 and 2014.
He also told the House that the Dairy Factory in Juapong also in the Volta Region has been leased to Simpaul Ltd, Producers of Happy Cow Cheese and other Milk Products to operate.
He noted that the Company is presently undertaking renovation works on the Factory and it is expected to commence operation soon after the renovation.