MONROVIA, LIBERIA-The Government of Liberia and ArcelorMittal have signed a third amendment agreement worth eight-hundred-million United States Dollars.
The agreement followed two years of painstaking negotiation between the Liberian Government and the world’s leading steel giant.
Information Minister Ledgerhood Rennie said:” The agreement will see ArcelorMittal complete phase two of its project in Liberia, and will create additional one-thousand-two-hundred direct jobs and hundreds of indirect jobs and opportunities for Liberians.”
In addition to the jobs, Minister Rennie said, the Extension Project will lead to the direct spending of two-hundred-million dollars in the local economy.
The Information Minister added that the Liberian Government will secure a sixty-five-million payment and an increase in ArcelorMittal’s Community Development Fund from three-million to four-million United States Dollars