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Pres. Sirleaf Submits Investment Agreement For Ratification
Date Uploaded: Sep 25, 2016

President Ellen Johnson Sirleaf 

 

Pres. Sirleaf Submits Investment Agreement For Ratification
By Wilfred Gortor

MONROVIA, September 24 (LINA) - President Ellen Johnson Sirleaf has submitted to the National Legislature for ratification an Investment Incentive Agreement between the Government and Sethi Ferro Fabrik Incorporated for the development of a Scrap Metal Recycling Plant.

In a communication addressed to both Houses on Thursday, President Sirleaf said Sethi Ferro Fabrik is a corporation duly organized and existing under the laws of Liberia.

She said the purpose of developing a scrap metal recycling plant is for the production of steel products which will be made available to domestic markets in Liberia and other Mano River Union countries.

"This investment will provide jobs, utilize local materials, generate foreign exchange savings and contribute overall to the industrial sector of Liberia," President Sirleaf noted.

She wants the Legislature to ensure timely ratification of the investment contract which, according to her, is aimed at promoting the economic development of the nation.

Both Houses of the Legislature have assigned the agreement to their relevant committees for scrutiny following which the body will make an informed decision on the ratification of the agreement.
LINA WSG/TSS/PTK

 

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