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Liberia: Great Deal Already Done - Arcelormittal CEO Says
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The Analyst (Monrovia)
3 July 2008
Posted to the web 3 July 2008
George J. Borteh
Undoubtedly rated as the first top-notch investment conglomerate ever captured by the new administration to boost its economic recovery programme, ArcelorMittal Steel is brandishing its credentials of achievements since concluding its marathon concession agreement with the government barely a year ago.
Making the disclosures of successes attained so far, the chief executive of ArcelorMittal, Joseph Matthews said that his organization had surpassed the employment targets earmarked in the mineral development contract as well as the expected outflow of iron ore from the country by July 2009.
But while the disclosures sound so good to be swallowed bait and sinker, skeptics are questioning whether the employed Liberians in management are assertive or powerful enough to question policies instead of remaining docile and pliable yes-men that they are prone to be.
The Analyst George Borteh covered the first ever press conference granted by the giant steel magnate yesterday and files in this report.
The chief executive officer of the ArcelorMittal Liberia Limited, local antenna of the world's first-rate steel giant conglomerate Joe Matthews says his company has done a great deal of accomplishments since the establishment of the company in Liberia from the middle months of 2007.
Itemizing these achievements, the soft spoken and dignified public presenter named infrastructure as a key area where his company has attained significant results. According to him, ArcelorMittal has completed the construction of 188 housing units in both Buchanan and Yekepa.
"We are continuing our housing development program, and it is our expectation that by the end of this year, many more housing units in Yekepa and Buchanan will be completed", he said.
Also under infrastructure as toils of the company over the last year, he said 90 percent of the 190 kilometer all weather road along the rail track from Buchanan to Yekepa had been carried out.
The all weather road, according to him, is intended to facilitate the transport of equipment and supplies of the company as well as to ease travels of employees, motorists and the general public.
Turning his attention to bridge construction, the local ArcelorMittal CEO indicated that the Belleh Bridge between Ganta and Sanniquellie, which collapsed in 2007, has been constructed by the company at a cost of US$200,000.00 and would be completed within fifteen days.
According to him the damaged bridge had restrained travels of commuters and commercial activity between Monrovia and the borderline communities of Nimba County including his company operations.
He further said that his company had implemented an aerial survey of the mining community and mapping of the concession area.
Speaking on the issue of drilling in the mining sector under ArcelorMittal control in the country, Mr. Mathews disclosed that he has brought into the country Geosol, a Brazilian company to undertake drilling for ArcelorMittal.
"Geosol has mobilized four drillings and is currently working at Mount Tokadeh. We have already sent 17 shipments of ore samples for testing", he said.
He said among other things that his company is simultaneously expanding its drilling efforts and has initiated activities at the Gangra and Yuellitan ranges, adding that its estimated drilling cost is 3.0 Million United States Dollars in 2008.
To enlarge its support in the county mainly in Yekepa and Buchanan for the purpose of rail ties, the ArcelorMittal executive said that his company had to date imported heavy and light duty equipments and also imported 120 vehicles for operations inYekepa and Buchanan.
He said an order had been made for more than US$162.0 Million worth of equipment for the project, adding that said amount is the largest component for the rail ties, heavy and light equipment that will be used when it is time for operations.
He said that under its host community development and corporate social responsibility scheme, which is specified in the concession and Mineral Development Agreement, US$3.0million has been provided to three host counties according to the following rations: Nimba county US$1.5million, Grand Bassa US$1.0million and Bong US500.000.
ArcelorMittal has hired both Liberians and expatriate specialists to serve as liaisons between the ArcelorMittal and the host communities. Mr. Mathews disclosed that about 1700 jobs have been created for Liberians in addition to job opportunities, contracts have been awarded to Liberians and other companies.
"This number will multiply three-fold when we enter the production phase of our operation in the next year. The ArcelorMittal CEO, who paid tribute to the government's wise leadership, said that his company would remain a strong partner to the government and in meeting its partnership responsibilities to the people of the country.
"We remain committed to beginning our ore movement and rail operations in July 2009", he assured.
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Mr. Matthews has meanwhile assured journalists that his conglomerate will henceforth open regular dialogue by holding press conferences so that the press which is the eyes and ears of the public may help review subsequent developments and progress of its activities for the benefit of Liberians and the wider international community.
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