The Liberian government has announced that it signed a $1.6 billion investment agreement with the Indonesia-based agribusiness and food company, Golden Agri-Resources.
The chairman of the National Investment Commission, Dr. Richard Tolbert, who made the disclosure to reporters in Monrovia Tuesday, said consistent with the agreement the company is to cultivate an estimated 500,000 acres of oil palm in south-eastern Liberia.
It will also employ about 35,000 persons in the next ten years, he pointed out.
Dr. Tolbert said the company is to build about twenty oil mills and a refinery that would purify the oil and manufacture margarine.
He indicated the group has already carried out an assessment on 100 and 1000 hectares of land and believes the land was suitable for the investment.
Golden Agri Resources is the largest oil palm producer in Indonesia and the second largest in the world.
Source African Press Agency
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