MONROVIA HAS SIGNED an agriculture concession agreement valued at US$800,000 for the rehabilitation and expansion of the Guthrie rubber plantations.
Sime Darby Co of Malaysia, a world leader in palm oil production, will cultivate 220,000 hectares of oil palm and rubber trees and will subsequently produce oil palm and rubber products for use in Liberia and for export. The company will construct and operate a vegetable oil refinery in the country.
According to the agreement, Sime Darby will provide 20,000 jobs over a 10-year period in three counties, and will also provide a social programme which includes housing and medical facilities for residents in the areas of operation. The company is expected to start operations in August this year.