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House retrieves railway, Port from Arcelor Mittal

By Titus Tokpah
Former LAMCO Rail Ways been renovated
Former LAMCO Rail Ways been renovated

(mylbsonline.com/Liberia)-The House of Representatives has retrieved an important railway and the Port of Buchanan from Arcelor Mittal.

The decision was taken by House Plenary through vote-taking Friday, August 16, 2013 at the National Legislature in Monrovia.

The latest action by the Lower House is based on several recommendations by a joint committee, headed by the House Committee on Concession and Investment.

According to the joint committee’s Chairman, Representative Moses Kollie, the rail and port will bring in more revenue for the government, if it is under its supervision.

Representative Kollie said: “Upon the Senate’s concurrence and subsequent approval by the President, the Transport Ministry will officially take charge of the railway, while the National Port Authority (NPA) takes over the Buchanan Port.”

“The House Plenary vote restricted Arcelor Mittal to manage at least 350 out of 16,407 acres of the Buchanan Port land,” the Lofa County Representative also noted.

Currently, the Legislature is thoroughly reviewing a new version of the Arcelor Mittal’s Concession Agreement.

Buchanan is the provincial city of Grand Bassa County in Southern Liberia, while Yekepa is an important mining city in Nimba County in the Central Region of the country.

The railway connects Buchanan Port to Yekepa, the main concession site of Arcelor Mittal, the world’s largest steel producing company operating in Liberia.

Buchanan and Yekepa are major economic centers that immensely contribute to Liberia’s recovery.

 


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