Wednesday, December 12, 2007

Arcelor Mittal to increase its investment in Liberia .

The Chairman of the world's largest Steel Company Mr Lakshmi Mittal told a news conference in Monrovia that his company was increasing its investment in the country from US $1-billion to US $1.5-billion dollars. Mr. Mittal who is in the country as a guest of President Ellen Johnson Sirleaf also told reporters his company is willing to expand its activities beyond the mining sector to share its expertise in other areas including the country’s power sector. Mr Mittal praised President Sirleaf for the progress the government continues to make since she assumed the leadership of the country and said he was pleased to associate with the President. “There is positive feeling about Liberia out there,” he acknowledged, assuring the President of full and direct commitment to the project. “We have to ensure that this project is successful because it will be a model for the future.
This news could not have come at a better time, the country is still recovering from almost two decades of civil war, the economy is in shambles, unemployment is at an all time high, and with electricity and sanitation almost nonexistent, this was indeed good news for the Liberian people. with these strings of good news lately, be it debt cancellation, Investments like the one announced by Arcelor Mittal today, or the huge outpouring of goodwill that the Liberian leader continues to get from the world's community, the Liberian nation might well be on her way to reclaiming her glory.

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