(LINA) – President George Manneh Weah has submitted to the Liberian Senate an Investment Incentive Agreement between the Republic of Liberia and Liberty Investment Limited for ratification.
According to President Weah’s communication to the Senate on Thursday in Plenary of the Senate’s Chamber on Capitol Hill, Liberty Investment Limited is the producer and distributor of Aqualife on the local and regional markets.
He indicated that this agreement with Liberty is for the establishment of a beverage production plant that seeks to produce and distribute alcoholic and non-alcoholic beverages, including water and various juices to the Liberian and regional markets.
He revealed that the investment is US$27,000,000.00 and explained that the location of the investment is Red Hill, Virginia, Montserrdo County, while the term of the agreement is 15 years.
President Weah stressed that the agreement is expected to create jobs and enhance the economic growth of the country.
According to him, it will specifically create about 150 skilled and unskilled positions as well as 400 indirect jobs.
President Weah maintained that the ratification of this agreement aims at revitalizing Liberia’s economy and creating jobs for Liberians.
