The Management of AA Universal Bean and Co Ltd, (Managers of Ikom Cocoa Processing Factory), has revealed that the cocoa plant has potentials to generate between $400 to $600m into the coffers of Federal Government on annual basis.
Chris Agara, Chairman of the company made the disclosure yesterday while speaking to journalists in Calabar while explaining the relevance of cocoa productivity in the present economy.
He described AA Universal Bean and Co Ltd, as a firm operating in a joint venture with AA Universal Industries Ltd, and as member of LR GROUP of Israel, his company has potentials to break even in the shortest possible time if given assistance and enabling environment.
While giving insight on the joint venture,, Agara stated that both companies formed an SPV (Special Purpose Vehicle) company known as AA Universal Bean & Co, which provides management of the cocoa value chain.
