Monrovia, Liberia – The ratification of the Third Amendment to the ArcelorMittal Liberia Concession Agreement has been praised by President Joseph Nyuma Boakai, Sr. as a significant accomplishment after years of discussions and positive involvement.
President Boakai highlighted that ArcelorMittal Liberia is one of the country’s main private sector investments and among Liberia’s leading employers, delivering a substantial contribution to job creation, skills transfer, and community development.
The President emphasized that a significant expansion of ArcelorMittal Liberia’s operations will be made possible by the amended agreement, increasing production capacity to 15 million metric tons with projections to reach 30 million metric tons.
He also stressed that the extension will be backed by an independently operated railway, a development anticipated to boost operating efficiency, promote multi-user access, and deepen the overall economic impact of the concession on the national economy.
President Boakai stateed that the Third Amendment will considerably boost Liberia’s economy by providing more jobs, generating more income, and supporting stronger development in host communities. He pointed out that the amendment’s adoption is a clear indication of Liberia’s investor-friendly environment and the government’s continued dedication to fostering an atmosphere that encourages ethical and sustainable investment.
In order to guarantee that Liberia’s natural resources are developed responsibly and in a way that provides inclusive, equitable, and long-term benefits to the Liberian people, the President reiterated his Administration’s commitment to engage investors, local communities, and all pertinent stakeholders.
