Zambian power companies Zesco and Copperbelt Energy Corp (CEC) have withdrawn their joint bid to manage Liberia Electricity Corporation, the CEC executive chairman said on Sunday.
An Israeli Company, Elenilto Mineral Mining Ltd, has been awarded the rights to develop the $1.6 billion Western Cluster iron ore project, President, Ellen Johnson-Sirleaf, said, reports say.
Planning & Economics Affairs Minister Amara Konneh has described as worrisome the continue delays in the passage of the 2009 investment act.
The government of Liberia has announced a new investment package valued at $10 billion in the mining, agriculture and forestry sectors.
The Sime Darby company, which took over the formal Guthrie Plantations in Gbah Foboi, Grand Cape Mount County, is making headways in western Liberia.
The Foundation for African Development Aid/ Libya-Africa Investment Portfolio (ADA/LAP) says it has completed its first major mechanized harvest in the country putting the yield at a little over 200 tons of rice.
Guthrie Plantations, which was recently a scene of relentless violent demonstrations, has become very peaceful since government turned the plantations over to Sime Darby, a Malaysian Company on Jan. 2, 2010.
The Chairman of the National Investment Commission (NIC) of Liberia has said that a Malaysian palm oil company has invested 800 million dollars in the Liberian economy.