President Ellen Johnson Sirleaf has submitted a bill to the House of Representatives, seeking ratification of an Investment Incentive Agreement between the Government of Liberia and Sethi Ferro Fabrik Incorporated – a corporation duly organized and existing under the laws of Liberia.
According to a communication from the President, the investment will provide jobs, utilize local materials, generate foreign exchange savings and contribute overall to the industrial sector of Liberia, and is in the interest of promoting this sector of the economy and yield other multiplier effects.
The investor wishes to develop a scrap metal recycling plant for the purpose of producing steel products to be made available to the domestic market and other Mano River Union Countries.
Meanwhile, the House of Representatives in its Thursday’s session last week, read the communication and forwarded it to the committee on Ways, Means, and Finance for review.
By Bridgett Milton