On December 21, the last day of its Special Session, the Plenary of the Liberian Senate concurred with the House of Representatives on the passage of the Investment Incentives Agreement between the Republic of Liberia and Jeety Rubber LLC.
The Senate’s concurrence with the House of Representatives on the Jeety Rubber LLC agreement was triggered by a motion from Montserrado County Senator Abraham Darius Dillon. In its report to the Senate, the Joint Committee on Concession and Investment, Judiciary, Human Rights, Claims and Petitions as well as Agriculture, Fisheries, and Forestry informed the Plenary that citizens of Liberia will accrue many benefits from the Agreement when ratified.
According to the Joint Committee, the implementation of the Agreement will raise additional revenue for the consolidated account of Liberia as well as open more employment opportunities for Liberians. The report, among other things, highlighted the processing plant which will serve as motivation to other investors in the country to establish similar value-added projects and bring the needed development in the concession area.
According to the joint committee report, other benefits contained in the Agreement are the health and educational programs of affected communities, and that deserving students of affected communities will receive additional sources of financial support towards their scholastic programs.
At the same time, the Company shall occupy the total land space of 222.3 acres, is located in Gborplay Town, District #5, Margibi County and shall have a lifespan of 15 years, subject to renewal based on mutual consent of the parties to the Agreement.
It can be recalled that the Investment Incentive Agreement between the Government of Liberia and Jeety Rubber LLC was submitted to the Senate by President George M. Weah during the 15th day of the special sitting of the Senate on Thursday December 14, 2021, seeking the Senate’s Ratification.
ArcelorMittal Amended MDA
On the issue of the ArcelorMittal Agreement, the President Pro-Tempore of the Senate Albert Tugbe Chie, during an end-of-session press briefing on Tuesday, pointed out that several concerns have been raised from the affected communities and Counties on the performance of the company on the existing MDA.
He said the Senate has set up an Ad-hoc Committee, headed by Senator Saah H. Joseph, which visited Grand Bassa, Bong and Nimba counties and listened to the affected communities, as well as other stakeholders in Monrovia and the diaspora.
Accordingly, the Pro-Tempore acknowledged that the Senate’s joint committee on Lands, Mines and Energy, Concession and Investment and Judiciary will consider the concerns of the affected communities and counties and other issues on the access to the railway and the Buchanan Port by third parties, disputes in the concession area, exploration work program and fiscal issues; adding that the joint committee will continue work on the amended MDA when the Senate resumes in January 2022.