Speaking of the new plant which has been valued at US$ 14 million with the capacity to produce 2000 bags of cement, President George Weah commented that the launch signals investors’ belief and trust in the Liberian economy and denotes a significant investment in the country.
“As we launch this investment at CEMENCO, a new investment bank has been opened by international partners, under the auspices of the Liberia Bank for Development and Investment, which is good news for Liberia,” President George Weah said at the launch.
“To make foreign direct investment in Liberia is a vote of confidence in the safety and civility of the Liberian investment environment; we applaud you for that,” he said.
President Weah noted that CEMENCO will begin to see growth in the Liberian economy, due to a rise in projects that will require cementitious products, such as road and infrastructure projects. He also suggested that the new plant will create a number of jobs.
CEMENCO Managing Director, William Gaihnard, said, “First it shows that CEMENCO will have the capacity for high-quality demands at affordable price through the year; two, it is protected in a way that CEMENCO will be able to supply fresh and dry cement all over Liberia, during the rainy season and that the environmental aspect is fully taken care of.”
“CEMENCO has become the leader in terms of quality control, which places Liberia among the leading countries in technology development with expertise. With this plant, there will be more production of cement than 2019,” he said.
“We don’t only produce cement, we create jobs and promote entrepreneurship through our distributors’ network and we contribute to Liberia’s economy in different ways, and it calls for celebration,” he added.
Read the article online at: https://www.worldcement.com/africa-middle-east/17012020/cemenco-launch-us14-million-cement-plant-in-liberia/