First of its kind for Liberia
Global Logistics Services (GLS) Incorporated, a leading Liberian logistics company represented by Peter Malcolm King, Group Chief Executive Officer (CEO) and Mr. Peter Hutchinson, chief executive officers of InfraCo Africa (of the private Infrastructure Development Group), have signed US$6 million historic partnership agreement for the development of Liberia’s first and independently-run modern commercial storage facility in the country.
Delegates from InfraCo Africa, Guaranty Trust Bank, and staffs of GLS graced the signing ceremony, which took place on Tuesday, July 30, 2019, at GLS office in Congo Town.
King, who signed on behalf of GLS, said the joint venture company, Liberia Inland Storage and Distribution Services Incorporated (LISDSI), will build an open-access, temperature-controlled storage facility within the Monrovia Industrial Park, off Somalia Drive, circa 10 kilometers from the Freeport of Monrovia.
“Today, GLS Group, partly a Liberian company, is signing this development agreement with InfraCo Africa for the developments of the first commercial independently-run warehouse and distribution facilities in Liberia,” he said.
King noted that the storage facility, when built, will provide businesses with over 7,500 cubic meters of modern warehouse space, with options for general and temperature-controlled storage and security options in its first phase.
LISDSI, according to GLS CEO, will be the first of its kind to meet the growing storage needs of small, medium and large companies within the Mano River Union (MRU) and will greatly support international development operations for the handling of life-saving medicines and humanitarian aid relief materials.
King told journalists that the operations will commence in 2020, and incorporate state-of-the-art inventory management systems, loading and unloading capacity, and a range of storage temperatures.
“This is an emerging market in the industrial space, with this type of development set to grow in popularity over coming years,” King commented.
“The facility will operate a throughput model, with importers/exporters, organizations and third-party logistics companies securing space requirements for the short medium-term; and remote last-mile connectivity through distribution services,” he said.
This approach, King added, will provide operations with flexible access to meet specific storage needs at the appropriate temperatures and quality specifications required.
He said LISDSI will improve and develop local capacity to supply chain operations and seek to implement initiatives designed to support local communities with increased development impact.
King also disclosed that possible initiatives will include a subsidized Seed Bank to support our budding local agricultural industry in quality retention, agro-processing, minimal wastage and reduce post-harvest losses.”
He said the project will provide a mountain of benefits to Liberia’s national development agenda, including improvements to the country’s supply chain infrastructure and processes, healthcare cold-chain logistics quality, reduced food and consumables prices, and increase “our trade potential while supporting operations to manage their associated risks of doing business in Liberia.”
King said GLS and its partner, InfraCo Africa, are proud to be taking on this noble project and together reiterate “our commitment toward the improvement of our country Liberia through strategic investments in infrastructure, human capacity and social welfare.”
InfraCo Africa CEO Hutchinson has expressed gratitude to GLS CEO for the partnership.
Hutchinson said with the signing of the agreement, the facility will have the opportunity to support small traders to have access to loans from the bank and also have 24/7 electricity.
He added that the facility would provide job opportunities and create revenue generation for the government. Meanwhile, the two CEOs have disclosed that the official groundbreaking ceremony is expected to take place in October.