NEIP signs MOU with Indian Company



The National Entrepreneurship and Innovation Programme (NEIP), under the ministry of Business Development, has entered into a memorandum of Understanding (MOU) with an Indian manufacturing company to provide manufacturing equipment under the Industrialization program of NEIP to feed into the one district, one factory programme The MOU was signed under the supervision of the ministry for Business Development between the national Entrepreneurship and Innovation Programme (NEIP), Action Construction Equipment Limited and Samdeb Company Limited, the consultant on the project Touching on the terms of the MOU, the chief executive officer for National Entrepreneurship and Innovation Programme.

John Kumah said the responsibility of ACE was to provide equipment and installation under the industrialization program of NEIP. He said NEIP industrialization will identify ten local private companies who will become beneficiaries of the various factories, with NEIP acting as a facilitator for and on behalf of the government of Ghana and in partnership with Ghana Exim Bank. “NEIP, under its Industrialization flagship program, has plans to establish small-scale manufacturing plants to promote youth entrepreneurship and create job opportunities among the Ghanaian Youth. He added, the MOU with ACE is an effective way to implement NEIP industrialization program to feed into the one-district, one-factory agenda of government, with particular emphasis on the youth.

The president of ACE Naresh Chandra Soral, said ACE has the capacity to produce all forms of Manufacturing equipment. He said; ACE will design the engineering of plant, development of mechanical and electrical drawings, general layout of the plant, machine foundation, preparation of operations, ,maintenance manual and standard operation procedures (SOPs) “ACE will also be responsible for procurement, supply of plants and equipment for production, tools and equipment for quality control, including associated auxiliary and equipment, and supply spare parts”.

Funding for the project will be arranged from Ghana Exim Bank, which will ensure the availability of funds during execution of the project. Some of the areas under the MOU are the development of machines for nail manufacturing in three different regions of Ghana, sewing and tailoring in all ten regions, Automobile repair and servicing workshops in three regions, steel fabrication workshops in two regions, concrete blocks manufacturing plant in ten regions, toilet paper and sanitary napkins manufacturing plant, carton manufacturing plans, etc.


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