MONROVIA, LIBERIA -The government of Liberia and Arcelor-Mittal will this Friday sign a third amendment to the mineral development agreement worth eight hundred million United States Dollars.
The agreement followed two years of painstaking negotiation between the government and the world’s leading steel giants.
Information Minister Ledgerhood Rennie said the agreement will see ArcelorMittal complete phase two of its project in Liberia.
He said the new investment by Arcelor-Mittal will create additional one thousand two hundred direct jobs and hundreds of indirect jobs and opportunities for Liberians.
In addition to the jobs, Minister Rennie Said, the Expansion Project will lead to the direct spending of two hundred million dollars in the local economy.
The Information Minister added that the Government will secure a US65M payment and an increase in Arcellor-Mittal’s community development fund from US3Million to US4Million.