Liberia: Weah Unveils U.S.$ 14 Million Modern Cement Plant At Cemenco

Monrovia — President George Weah says the launch of a new cement production plant by CEMENCO is a clear demonstration of the confidence investors have in the Liberian economy.

"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 Weah said Thursday when he attended the launch.

President Weah described the new cement production plant as an extension of a state-of-art investment in the country which has introduced a technology to the cement industry and brings about inefficiency to the Liberian cement production firm.

The plant is valued at US$ 14 million and has the capacity to produce 2,000 bags of cement.

Speaking Thursday, during the launch of the project at the Freeway in Monrovia, he said the plant shows the industry's level of trust to improve foreign direct investment in Liberia under his stewardship.

"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.

Describing the cement production plant as timely, President Weah affirmed that after two years of assessment, CEMENCO will witness growth within the Liberian Economy as a result of many new projects which will required cement products.

These projects, according to him, would include the continuation of road projects and the construction of other new infrastructures.

He furthered that the new plant will create jobs at CEMENCO and solves Liberians' demand for cement.

During the program, CEMENCO Managing Director William Gaihnard said the new plant will be able to produce 14 million bags of cement per year - far above what was being produced in past years.

Mr. Gaihnard added that the plant meets three key demands for cement suppliers in Liberia and is best suited for a quality management system.

"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, which illuminate the risk of pollution during the discharge of raw materials at the port," Mr. Gaihnard said.

This investment demonstrates his company's readiness to live up to the demand for quality cement in Liberia in an effort to build the nation, he said, adding that It will also curb the scarcity of cement and to enable the product to be sold at affordable price for those involved with civil engineering works.

"CEMENCO has become the leader in terms of quality control which place Liberia among the leading countries in technology development with expertise. With this plant, there will be more production of cement than 2019," he said, while calling on the government to provide a level playing field for all stakeholders to benefit from the cement industry.

"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 asserted.

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