President George Manneh Weah has inaugurated a US$14m worth state – of – the – art cement production plant at CEMENCO – Liberia, assuring the company that the creation of new jobs in the private sector will continue to drive demand for cement here.
“There will be many new projects which will require your products, including roads and the roll out of new infrastructures. The creation of new jobs in the private sector will continue to drive demand for cement,” he said Thursday, 16 January at CEMENCO on Bushrod Island.
President Weah sees the investment as timely, stating with confidence that the Liberian economy is now poised for growth after two years of assessment which has necessitated many corrections and adjustments.
He adds that today is a great day for Liberia and its people, as two major investments inclusive of the cement production plant at CEMENCO and a new investment bank under the auspices of the Liberia Bank for Development and Investment (LBDI) were being launched the same day.
According to him, it shows the kind of confidence that investors have in the Liberian economy, expressing his pleasure to join others at the inauguration of the new cement production facility.President Weah says he is informed that the addition of the plant to existing production plant at CEMENCO is a state – of – the – art extension, causing US$14m.
He notes that it will not only significantly increase CEMENCO’s total production capacity, but will also introduce a new technology and bring new efficiency to cement production here.
“I am gratified to see this development and I want to congratulate you CEMENCO and your parent company, the Heidelberg CEMENCO which is an indication of the level of trust in the Liberian economy,” President Weah continues.
He adds that willingness to continue to make foreign direct investment in Liberia [speaks of the] confidence and stability of the Liberian investment environment.
Speaking earlier, CEMENCO Managing Director Mr. William P. Gaignard expressed delight to welcome the audience at the inauguration of the project.He discloses that the project valued at over US$14m, will increase CEMENCO’s cement production, with expectation of producing 14 million bags per year.
CEMENCO Liberia Board Chair Mr. Morten Gade reveals that the production facility inaugurated meets three key demands for cement supplies in Liberia.First, he states that it ensures that CEMENCO has the capacity to meet the demand for high quality cement at affordable price for long period.
Further, he details that during rainy season, CEMENCO will provide dried, fresh cement to all corners of Liberia.Concluding, he highlights the elimination of the risk of pollution in the discharge of materials.By Winston W. Parley