-As Weah cuts ribbons to his US$35M Rubber-Processing Plant
Indian businessman Upjit Singh Sachdeva has disclosed that his US$35 million rubber-processing factory investment in Weala, Margibi Count, will generate between US$40 to US$50 million annually in needed revenue for the Liberian government.
He spoke to journalists Thursday, 31 August 2023 after President George Manneh Weah cut the ribbons to formally open the factory.
In addition to the projected amount the rubber company will generate for government revenues, Mr. Sachdeva, popularly called Mr. Jeety, said his company will also employ 700 or more Liberians.
President Weah stopped by briefly on Thursday from his hectic political campaign tours to formally dedicate the Jeety rubber-processing factory, a state-of-the-art investment.
It is hoped that the operations of the company will help address the high rate of unemployment in Liberia.
Jeety is the former Indian Honorary Consul General to Liberia. He held the post for over two decades.
President Weah, accompanied by Vice President Jewel Howard Taylor, and other top government officials, cut the ribbon to the plant and switched on the equipment to commence the first processing of the rubber.
Following the dedication, Mr. Weah and his entourage departed the company's premises to continue his political campaigning in the county.
Mr. Jeety said the turning on of the corporation's equipment by President Weah marks the commencement of the first phase of its operations.
He pointed out that his machines can consume between 200 to 250 tons of unprocessed rubber daily.
He maintained that the company would continue to purchase rubber from all local farmers as part of efforts to empower them and help improve the country's economy.
This, he added, will also help put money in the pockets of small rubber farm holders.
Jeety emphasized that the company will be fully functional throughout the week when huge tons of rubber are purchased from the local farmers.
"Rubber is one of Liberia's main commodities. Every country's commodity increases the Gross Domestic Product (GDP) of the country," said Mr. Jeety.
"Not only that, but the trigger down effect is also that it creates employment for several hundred thousands of people."
He added that it is why he is not putting up any farms, adding that he is buying rubber from all the smallholders in the country, and he needs 250 tons of rubber a day.
He extended thanks to all sectors of the Liberian Government for helping him get the factory set up and running.
He mainly thanked President Weah, Vice President Taylor, and the Ministries of Commerce, Agriculture, Finance and Development Planning, Justice, and Labor.
He also thanked the Director General of the Liberia Immigration Service (LIS) for the support from the beginning to the end of his project.
The successful Indian businessman disclosed that the company will ensure that the Liberian government generates US$40 to US$50M when it commences the exportation of processed rubber during the first phase of its operations.
He added that during this phase, the company will produce and export Technical Specified Rubber (TSR10) and Technical Specified Rubber (TSR20) respectively.
TSR10 and TSR20 are used for the production of tires of all kinds, bags, and mats, among others.
"If the second phase begins, we want to start the other rubber production and in a year, we want to be hopeful to start to produce rubber bands, gloves and in the next three to six years as per our contract with the government, we will make tires," Jeety stated.
Jetty, who is the CEO of Jeety Trading Corporation (JTC), stated that the TSR10 currently being processed by his company is the first processed rubber used for the production of tires, but such production will not begin now.
He described the company as "one of the best modern factories" in Liberia that will employ hundreds of citizens.
"Currently, we have a workforce of 400 people; all our workers are from Weala. We have a workforce that constructed this factory in a short span of 12 months."
He noted that already, the Jeety Rubber Corporation has already started giving to citizens of Margibi County as part of its corporate social responsibility.
Jeety named the provision of pipe-borne water to residents in about 15 communities, feeding of about 500 Weala kids daily, and the construction of a 50-bedroom fully equipped hospital, among others as some of the initiatives he had undertaken while at the same time constructing the factory.
Jeety Hospital
The hospital, which is expected to commence operations in Weala shortly, will host an operation theatre, a modernized laboratory, an x-ray room, an ultra sound, an eye treatment room, a store room, a pharmacy, an emergency room, and three doctor offices, among others.
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"I have already started giving to the people; I am not waiting for the company to start exporting before commencing corporate social responsibility."
Jeety's Agreement with the Government of Liberia:
The Government of Liberia, through the 54th Legislative in December 2021 ratified the Jeety Rubber LLC Investment Incentive Agreement for the production of multiple rubber materials.
According to the agreement signed with the government, Jeety Rubber LLC will construct, develop, and operate a national rubber processing and production plant for the production of tires and other natural rubber products. It includes long and short rubber goods.
The processing plant is also expected to produce hand gloves, rain boots, and rubber bands, among others.
The company will process approximately 25,000 tons of natural rubber per annum.
It compels Jeety Rubber LLC to consider the interest of local rubber traders and others during its purchasing of raw materials.
The factory, which includes warehouses, washing and treatment plants, sits on 13 hectares of property, between two rivers -- Weala and Borlor. It is at the moment the largest in the country. The factory building, which is 132,000 sq ft in size, is completely prefabricated.
