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Government has secured a loan of One Million US dollars ($US1 million) from the Ghana Export and Import Bank (Ghana EXIM Bank) under the One District/One factory initiative for the revamping of the defunct ASTEK Company Ltd at Nsawam which ceased operation in 2009 as a result of some challenges.

ASTEK is to use the $US 1million for the purchasing and installation of equipment for the processing and packaging of fruits such as orange pineapple for export and repay the loan within four years.

This was made known today when the MP for Nsawam/Adoagyiri Hon Frank Annoh-Dompreh and the NPP Executive in the constituency visited the factory to inspect preparation being made towards its revamping.

Hon Frank Annoh-Dompreh described the securing of the $US1million loan for the company as a dream come true and a big hope to the youth mostly in Nsawam/Adoagyiri who will be employed by the company.

He said the opposition parties in the country regarded the 2016 campaign promise of President Nana Akufo- Addo to ensure the establishment of one factory in each district of the country as mere rhetoric.

However he said such "doubting Thomases" are living witnesses to the fulfilment of the promise by government.

Managing Director of ASTEK Company Ltd Mr Albert Owusu commended the government of President Akufo- Addo and Hon Frank Annoh-Dompreh for their tireless efforts to help revamp the company in fulfillment of government's promise to promote job creation in the country.

He said ASTEK has signed an MOU with nine (9) out grower farmers associations in Nsawam/Adoagyiri and Akuapem South Districts for supply of raw materials (fruits) for processing.

According to Mr Albert Owusu the company could start operation by September 2019 and export its products to Spain, Europe and the USA.

About 50 workers will be employed initially by the company but the staff will be increased to about 200 when it expands operation, according to Mr Albert Owusu.