By Justice R. Clarke
MONROVIA, July 23 (LINA) – President George Manneh Weah has described as a milestone in the history of Liberia the operationalization of the “first-ever” steel factory that will significantly contribute to economic growth through value addition and job creation.
The production plant, owned and operated by Indian firm Sethi Ferro Fabrik, Inc., is located in Gardersville, outside Monrovia and was officially dedicated on Tuesday by President George Weah.
It has begun manufacturing “best quality” steel rods from light and heavy scrap metals, and the company anticipates venturing into adding value to Liberia’s iron ore in the near future, according to Chief Executive Officer Lucky Sethi.
Before he cut the ribbon to the gigantic factory, President Weah said for too long Liberia has imported essential commodities, including steel rods, and that he was proud now that there will be an important “Made in Liberia” product.
In the meantime, the President stressed that while the government is working harder to empower local businesses, it was equally pivotal for all citizens to recognize the benefit of opening up the economy to powerful foreign firms, if the economy should be resuscitated from the shocks it continues to experience.
More particularly, the President let it be known that huge investments in the country would result into great inflow foreign exchange that will create room for stability.
“So, my fellow Liberians, those people will come here and create jobs for you; they will keep their wealth in local banks, then you will get more jobs and there will be no inflation,” said Pres. Weah.
He added: “Liberia produces rubber, but we do not have a shoes factory, how can that be? Now, we have scrap, we have iron ore, but we are proud to say that we have a steel factory. This could be the first, there could be the second, and then the third – and that’s the right way to go! We need a ‘Mmade in Liberia!’”
The factory currently has in its employ over 300 persons, mostly Liberians, and expects to create an additional 500 jobs in all.
President Weah encouraged Liberians employed there to display a high level of diligence, honesty, and commitment to duty.
Executives of Sethi Ferro Fabrik say as operation progresses at the plant, they anticipate exporting steel rods and other steel products to countries in the ECOWAS region while significantly making it cheaper on the Liberian market.
Meanwhile, Indian Ambassador accredited to Liberia, Y.K Sailas Thangal, indicated that installation of the factory came as a result of the “visionary leadership being provided for Liberia by President George Weah by moving the country towards a prosperous and inclusive society.”
With a stronger bilateral cooperation between Liberia and India from which the steel plant spurred, Ambassador Thangal said the investment was the beginning of a journey for self-sufficiency of the Liberian economy.
The Indian envoy added that the Liberian government’s Pro-poor Agenda for Prosperity and Development framework has been cementing international cooperation that will benefit not only Liberia but also all the cooperating partners.
LINA PR/PTK
