NIC announces the signing of several MOUs

The National Investment Commission announced last week that it has signed about seven MOUs with various companies with interest in investing in Liberia under the George Weah Pro-Poor led government.

NIC, which is critical to the government’s obtainment of its pro-poor agenda said it is posed to ensure that interested investors are adequately informed about Liberia’s investment opportunities to enable them make better decision on their investment interests here.

The MOUs mentioned last week by the NIC include that of an energy waste to energy and electricity generation project spear headed by an American own company PSCM, whose officials visited Liberia sometime May this year.

Although a formal announcement will not be made until August, the MOU provides for the American Company, PSCM Energy of Cedar Park, Texas, to build and operate landfill and sewage waste to energy processing plants in Liberia. In addition, PSCM Energy will build and operate an initial pilot project of 25 Megawatts of distributed, micro-power, electricity generating facilities. Construction is dependent upon additional negotiations but is tentatively scheduled for the last quarter of 2018.

The benefits of the sewage and landfill waste to energy project are is expected to reduce the growth of toxic landfills, clean up landfill waste site, prevent groundwater contamination, and create cleaner neighborhoods. The project when implemented will also prevent the spread of disease (cholera, yellow fever, malaria), dispose of sewage waste and clean up sewage waste dumping sites.

The country also stands to benefit clean renewable energy electricity, reliable electricity, affordable electricity which does not rely upon expensive electrical grid upgrade but rather generated at site of demand. All these are benefits which are expected to be from the distribution of the company’s micro-power electricity generating project.

The PSCM Energy team, which visited Liberia in May of 2018, says it looks forward to partnering with the NIC on these and future projects for the benefit of the people of Liberia.

PSCM intends to invest over US 350 million into garbage collection at no cost to the government of Liberia. It intends to transform the waste product into ethanol and fertilizer as its main commodities for sale.

The company says it is prepared to jump start its investment here with the approval of the Liberian Government. The investments are private and come as no cost to government.

NIC Executive Director Molewuleh B. Gray Esq. responding at the time indicated that Liberia is open to investors. He encouraged the investors to explore other opportunities beyond their core investment interests.