By our Reporter
For many decades Liberia has been producing iron ore, the mineral steel rod and other steel materials are made of, yet this West African nation has never been able to produce steel products.
This multi-million US dollars Indian investment, which was started during the past administration of President Johnson Sirleaf, currently employs 300 Liberians and the workforce is expected to be stepped up to 500 later.
Tuesday, July 23, 2019 saw the historic dedication of Liberia’s first steel factory by President George Manneh Weah, as part of series of dedication of various development projects marking the country’s 172nd Independence anniversary on this Friday, July 26.
Officials of the factory say a Chinese construction company, Qinggle International Group Development Company Limited constructed the project.
The new steel plant is said to have been constructed at a cost of US$22 million and it specializes in the manufacture of squared pipes, steel round pipes, reinforcement steel bars and angle steels
“The services to meet the demand on the Liberian market and the West African sub-region,” according to the Steel Guru website- https://steelguru.com/steel/construction.
The Executive Mansion has described the dedication of the steel factory as the “latest of such emerging waves of developments since the ascendancy of President Weah is a modern steel rod factory, the first to be built and operated in Liberia.”
The dedication of this huge steel factory is owned and was constructed by Sethi Ferro Fabrik Inc., one of the country’s longstanding business partners.
In dedicating the factory, the Liberian Leader expressed gratitude to the management of Sethi Ferro Fabrik Inc. for undertaking such a huge investment in Liberia.
“I am glad today that, in my time, Liberia has got the first steel rod factory,” the President said, indicating that the construction of factory would change the paradigm of trade in a country that has long depended on imported goods and materials.
“All we know in this country is that we import steel rods and other things from Ghana and elsewhere,” he said lightheartedly. “Today, I am proud because I can tell Ghanaians that we are now a steel rod producing country.”
The President expressed the hope that the construction of the steel rod factory, which is a big investment by an Indian-owned company in Liberia, would positively impact the economy.
Earlier, the management of the Sethi Ferro Fabrik thanked President Weah and the government of Liberia for creating the enabling business space that enabled them to reach a relatively high level of development in Liberia.
The company currently has over 300 Liberians in the employ of new steel rods factory and is expected to employ up to 500 Liberians.
Sethi Ferro Fabrik, Inc. which will be using scraps for the production of steel rods, also appealed to the President to use his offices to help them acquire iron ore in the near future to enhance their business.
The steel rod factor dedication program is one of the many activities characterizing celebration of the 172nd Independence Day, according to an Executive Mansion press release.
It was attended by several officials of government, members of the diplomatic corps and the business community.