Liberty Corridor Ready for Inter-Ministerial Concessions Committee

The Liberty Corridor development project is poised to head to the Interministerial Concessions Committee, following significant progress made by the Liberty Corridor Steering Committee established by President Joseph N. Boakai in February 2024. 

Following the second meeting of the Steering Committee for the Liberty Corridor Development project, held in Monrovia on Monday, April 22, 2024, it was announced that the Steering Committee has finalized a final Draft Development Agreement, developed a draft communications strategy for the project, held numerous discussions with potential funding and construction partners and remains focused on the rapid development of the Liberty Corridor.

The Steering Committee resolved on Monday to formally request that the President refer the Liberty Corridor project to the Interministerial Concessions Committee (IMCC) for final and conclusive negotiations with American company HPX, Guma and the Government of Liberia. The IMCC is the legally established vehicle under the laws of the Republic of Liberia for the final negotiations of all Concession Agreements, prior to ratification by the National Legislature. 

The Liberty Corridor Steering Committee meeting was attended by representatives of the Government of Liberia, HPX and Guma.

The Development Agreement is intended to grant rights to HPX and Guma to proceed with the feasibility studies, financing, and development of the Liberty Corridor.

“We are very excited that we can move the President’s development agenda for Liberia forward and commence with a process that will bring tremendous opportunities for the people of Liberia and Guinea,” Minister of State without Portfolio Mamaka Bility commented. “We will ensure that this process is completed so the feasibility and subsequent development of the cross-border Liberty Corridor commences with participation by the government of Guinea.”

President and CEO of HPX, Bronwyn Barnes stated: “HPX is pleased with the significant progress made by the Steering Committee for the Liberty Corridor project and the strong commitment that has been shown by the Government of Liberia. HPX supports the final draft of the Development Agreement to be referred to the IMCC. Once the Development Agreement has been signed by the parties, this will allow the feasibility study stage of the project to proceed and will enable discussions with international investment partners to be advanced.”

Mr. Robert Gumede, Executive Chairman of Guma, commented: “The Liberty Corridor is a historic game changer for Liberia, Guinea, and the region as a whole and will unleash immense opportunities for economic development, growth and the creation of sustainable jobs in both Liberia and Guinea. We at Guma Africa Group see this investment as a win-win for us and all involved. We look forward to concluding with the IMCC. It is indeed a historic major integrated cross border corridor in Mother Africa. The leadership and support of President Joseph BOAKAI and his government is a catalyst for this up to $5b investment.”

The second Steering Committee meeting was chaired by the Minister of State without Portfolio, Mamaka Bility, on behalf of the Minister of State, Sylvester Grigsby, who was out of the country. Other Ministers in attendance included Wilmot Paye, Minister of Mines and Energy, Acting Minister of Justice. Massa Jallabah, and others representing the Ministry of Finance and Development Planning. In addition, the Managing Director of the National Port Authority, Sekou Dukely, was in attendance. 

Background to the Liberty Corridor 

The Liberty Corridor will comprise a brand new world class rail system connecting Guinea to a brand new deep water port at Didia in Liberia, an extension of the existing hydropower network from Côte d’Ivoire into the Nimba districts of Liberia and Guinea, an upgrade of the existing road networks in the Nimba district to all weather roads and the implementation of fiber optic telecommunications cable connecting Liberia to the Guinea Nimba district and potentially beyond the MRU. The Liberty Corridor would be a joint development between the Government of Liberia, HPX and Guma Africa Group and the involvement of the Republic of Guinea, with HPX being an anchor customer as it will be exporting up to 30 million tons per annum of iron ore from its ultra-high grade Nimba iron ore project in Guinea. It is proposed that the Liberty Corridor project will be implemented in stages over 3-5 years with a final timeline and construction cost to be contained in the feasibility study. While that is ongoing, HPX will utilize the existing excess capacity of the Liberian government owned rail and port infrastructure which will generate income in rail and port user fees for the Government of Liberia.

A Liberia-Guinea multi-user infrastructure corridor has the potential to transform the mineral-rich Nimba region, create sustainable jobs and for industrial projects along the railway and road corridor in Liberia & Guinea. The Liberty Corridor will stimulate economic activity in mining, as well as agriculture, manufacturing, health, and education, dramatically improve the quality of life for the millions of people living in the region and create sustainable regional employment.