K2mil given to help factory for frozen vegetables

Prime Minister Peter O’Neill presented K2 million towards the investment of Southern Highlands and the Ialibu-Pangia district in a frozen-vegetable factory being built in Pangia.
As part of the Government’s policy to boost the country’s agriculture sector, focusing primarily on rural farmers, the Southern Highlands provincial government and the district of Ialibu-Pangia set up an equal part joint venture with Innovative Agro Industry (IAI) Ltd.
Work on the project began last year and the construction of an agro-industrial food plant is expected to be completed by the end of this year.
The plant includes a modern
production line to process potato chips.
The total investment in the joint venture is about K42 million and the equity investment was equally shared by IAI (50 per cent) and the province and district (50 per cent).
The project received further financial backing from the Israel Discount Bank Ltd.
According to the IAI, at a later stage the joint venture will be looking to process taro and sweet potatoes for export.
The Agro Industrial Centre will encompass a hub in the Southern Highlands that will buy potatoes from local growers, process them and market the produce as frozen vegetables.