SIFCA to Joint Venture with GVL to Build Palm Oil Factory in Liberia
Monrovia, Liberia: Ivorian Ago Giant Industry Corporation, SIFCA is on the verge of entering into a joint venture with GVL to build what it terms will be one of the biggest oil palm factory in the world with a production capacity of 80 metric ton per hour.
According to an Executive Mansion release, this was disclosed by the Chairman of the Board of SIFCA - Mr. Alassane Doumbia ON Friday, October 6, 2017 when he met with President Ellen Johnson Sirleaf at her Foreign Ministry office in Monrovia.
Mr. Doumbia thanked the President for the cooperation the company received from the Government of Liberia when it started its investment projects, which led to the acquisition and rehabilitation of the Cavalla Rubber Corporation and the Maryland Oil Palm Plantation in Pleebo, Maryland.
The Oil Palm factory will cost about US $30 million dollars and will create hundreds of jobs in the Southeast. SIFCA is also working with small farmers in the three counties.
Responding, President Sirleaf expressed satisfaction over the news and said that Liberia and Côte d'Ivoire have many avenues of cooperation to explore, especially in the area of agro-industry. She said she and President Alassane Ouattara of Côte d'Ivoire have mapped up many areas of cooperation during her last visit to Abidjan.
Besides Liberia, SIFCA operates in several West African countries including Senegal, Ghana, Nigeria and Sierra Leone in the production of rice, rubber palm oil and manufacturing. SIFCA employs about 3,000 full time and seasonal workers in Maryland County, Southeastern Liberia.