Liberia Government Signs US$200M Contract

Mamos Media

By Julius Konton, Mamos TV, Liberia

LIBERIA- The Government of Liberia has signed a contract agreement that will employ thousands of Liberians across the country. The government went into contract with two mining companies, an agreement worth US$200M (Two hundred million United States dollars).

The T.40 Investment Company and Steel and Cement Companies signed a lucrative deal with the Liberian government that is expected to employ thousands of unemployed Liberians, an agenda which the president says she is committed to up to the last days of her administration.

The company is expected to manufacture steel rug in Liberia and is considered to be first of its kind in Liberia with the strength of employing thousands of young Liberians for a period of 17 (seventeen years).

According to the Finance and Development Planning minister, Boima Kamara, this developmental initiative is part of Liberian government’s policy of value addition to the mining sector, noting the private sector is the engine for national growth.

Minister Kamara wants Liberians to make maximum use of the golden opportunity accorded to them by the government, whilst reaffirming government’s support for economic development.

Speaking at the signing ceremony, President Sirleaf said it is about time for Liberia’s mineral resources to be transformed into a finished product in Liberia, a move which is developmental for the country.

“When our Natural resources are manufactured into finished product, Liberia will be considered as a hub for economic activities,” she noted.

President Sirleaf further expressed delight on the new direction mining companies are operating, and she therefore encouraged other companies to follow such an example. She said that she is very proud as a president, for Liberia’s raw mineral to be made into finished product, which will possibly attract investment from all over the world.

The President commended the two companies for their landmark investment and expressed hope that the current mineral agreement will bring relief to the job market in our struggling economy.

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