President John Dramani Mahama has announced significant progress in government’s efforts to revive the long-defunct Volta Star Textiles Limited (VSTL), describing the initiative as a major step towards restoring industrialisation and creating sustainable employment in Juapong and the Volta Region.
Speaking during the sod-cutting ceremony for the 24-Hour Economy Model Market in Juapong, the President disclosed that government has successfully completed the selection of a strategic investor to partner in the rehabilitation and modernisation of the textile factory.
According to President Mahama, a transaction advisor has already been appointed to oversee the process, and the selected investor will soon visit the factory to begin preparations for its redevelopment and eventual reopening.
“The revival of Volta Star Textiles Limited will create jobs, strengthen Ghana’s textile value chain and reposition Juapong as an important industrial hub,” President Mahama stated.
He further revealed that government is finalising arrangements to sign a Memorandum of Understanding (MoU) with the Government of the Republic of Benin to supply cotton as raw material for the factory, ensuring a reliable source of inputs to sustain production.
President Mahama said the revival of the once-thriving textile company forms part of government’s broader industrial transformation agenda under the 24-Hour Economy policy and the proposed Volta Economic Corridor, aimed at promoting manufacturing, value addition, exports and employment.
He expressed confidence that restoring Volta Star Textiles would not only revive the area’s proud industrial heritage but also stimulate economic activity, create thousands of direct and indirect jobs, and position Juapong once again as one of Ghana’s leading industrial and manufacturing centres.
Story: Patrick Asford Boadu
