ArcellorMittal CEO Promises Continuous Collaboration Following First Meeting With President Boakai

MONROVIA – H.E. Joseph Nyuma Boakai, Sr., the President of the Republic of Liberia, hosted a high-level team from ArcelorMittal, the world’s second-largest steel manufacturer, on April 8, 2024.
Mr. Lakshmi Mittal, the owner and executive chairman of ArcelorMittal, was among the delegation members.
This was the first meeting between Mr. Mittal and President Boakai since the latter’s inauguration, which took place at the Executive Mansion on Capitol Hill.

In line with President Boakai’s goal of equipping young Liberians with fundamental technical and operational abilities, ArcelorMittal has reiterated its commitment to furthering investment in its Vocational and Technical Center (VTC) and providing support to other TVET institutions in Liberia.
According to ArcelorMittal, by 2025, 200 competent adolescents will be enrolled in its VTC program, on top of the 100 who have previously graduated.

In an effort to develop the country’s future leaders, the steel giant said it would also keep funding scholarships for Liberian students seeking further study overseas.
The company has revealed that it will carry on generating employment opportunities for Liberians in the interim by assisting small enterprises, building hospitals and schools, and taking part in the renovation of vital road infrastructure like the Ganta-Yekepa Highway, which serves as a crucial commercial link in the regional road network that borders the neighboring countries of Guinea and Cote d’Ivoire.

After meeting with Mr. Mittal, President Boakai told the press that the government of Liberia acknowledges ArcelorMittal’s dedication to the country and its people.
“We look forward to continuing working with ArcelorMital as a trusted partner, to diversify its support to Liberia’s transformation, and ensure that Liberians benefit from the investments being made in the country” , President Boakai said.

Speaking at the same time, Mr. Mittal revealed that his company has always aimed to be a committed, respected, and reliable partner to Liberia and its people ever since it first entered the country in 2005.
“Meeting with H.E. President Boakai today is a joy, and we are eager to collaborate with him and his team to further our relationship. We’re on schedule to launch our project later this year, which will greatly increase our footprint in the nation,” Mr. Lakshmi Mittal continued.

He said that Liberia’s mining sector was reopened in 2011 when ArcelorMittal began delivering its first shipment of ore to clients with a 5 million tons annual operation.
He claimed that the company has invested an additional $1.4 billion in its new expansion project to create an iron ore concentrator that will produce high-grade iron ore and raise annual production to 15 million tons.

The ArcelorMittal owner also revealed that, with this latest expenditure, the company has invested over $3.0 billion in the nation overall. This sum includes a sizeable investment in the Yekepa-Buchanan train infrastructure.
After researching a gradual development of up to 30 million tons annually, he came to the conclusion that the first phase of the expansion is scheduled for completion in late 2024.  Source: Spoon Network

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