• Short Summary

    THE GHANAIAN GOVERNMENT AND THE FIRESTONE RUBBER COMPANY OF AMERICA HAVE SIGNED AN AGREEMENT UNDER WHICH THEY WILL ESTABLISH A JOINTLY-OPERATED GHANA COMPANY.

  • Description

    THE GHANAIAN GOVERNMENT AND THE FIRESTONE RUBBER COMPANY OF AMERICA HAVE SIGNED AN AGREEMENT UNDER WHICH THEY WILL ESTABLISH A JOINTLY-OPERATED GHANA COMPANY.

    THE CONTRACT WAS SIGNED IN ACCRA THIS WEEK BY MY YAKUBU, THE NATIONAL LIBERATION COUNCIL MEMBER IN CHARGE OF INDUSTRIES, AND MR. ARVID LUND, PRESIDENT OF THE FIRESTONE PLANTATIONS COMPANY.

    UNDER THE SCHEME, THE GHANAIAN GOVERNMENT - OPERATING AS GHANA RUBBER ESTATES LIMITED - WILL OPERATE PLANTATIONS IN THE WESTERN REGION OF GHANA, WHILE THE AMERICAN COMPANY - OPERATING AS FIRESTONE GHANA LIMITED - WILL MANUFACTURE TYRES AND TUBES AT ITS FACTORY AT BONSASO.

    IT IS ESTIMATED THAT WHEN THE SCHEME IS FULLY OPERATIVE, THE PLANTATION WILL PRODUCE 42-MILLION CEDIS (GBP21-MILLION STERLING) ANNUALLY, AND TYRE PRODUCTION AT BONSASO WILL REACH 120-THOUSAND TYRES A YEAR.

    THE ESTIMATED TOTAL CAPITAL INVESTMENT INVOLVED IN THE SCHEME IS 9-MILLION AND 57-THOUSAND NEW CEDIS (GBP4,528,500 STERLING). THE SCHEME WILL EMPLOY THREE THOUSAND PEOPLE IN THE INITIAL STAGES.

    IT REPRESENTS THE SECOND LARGEST UNITED STATES INVESTMENT IN GHANA.

  • Tags

  • Data

    Film ID:
    VLVADWHVKSQEB19DQVH8BRPPW61WA
    Media URN:
    VLVADWHVKSQEB19DQVH8BRPPW61WA
    Group:
    Reuters - Including Visnews
    Archive:
    Reuters
    Issue Date:
    13/06/1967
    Sound:
    Unknown
    HD Format:
    Available on request
    Stock:
    Black & White
    Duration:
    00:01:22:00
    Time in/Out:
    /
    Canister:
    N/A

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