SIFCA Injects US$750K Into Maryland Economy Monthly

User Rating: 2 / 5

Star ActiveStar ActiveStar InactiveStar InactiveStar Inactive
 

PLEEBO, April 30 (LINA) -An official of the Cavalla Rubber Corporation (CRC) has disclosed that SIFCA, which operates the CRC, injects some US$750,000 into the economy of Maryland County monthly through salary payment.

SIFCA, an Economic Community of West African States (ECOWAS)-based, agro-industrial company, through its subsidiaries, holds a 50-year concession agreement to develop a rubber plantation and rubber processing plant on 30,000 hectares of land in Maryland County.

CRC Deputy Managing Director John Barkemeni said SIFCA, which also owns the Maryland Oil Palm Plantation (MOPP), spends over US$500,000 as salaries monthly to over 2,000 direct employees and 3,000 indirect employees of CRC.

He told the Liberia News Agency that the firm also spends US$250,000 on income for 700 direct employees and 500 indirect employees of MOPP.

Mr. Barkemeni made the disclosure to Information Minister Lewis Brown, during a visit to the plantation on Monday, as part the Minister’s ongoing development impact assessment tour of five counties. 

According to Mr. Barkemeni, the operations of both CRC and MOPP have also boosted the economy of Maryland County through the Social Development Funds they give to the county’s administration for development purposes.

He further disclosed that CRC has plans to train locals who will form part of the CRC staff, adding, “as CRC expands its operations it will employ additional community dwellers, thereby adding more benefits to their communities."

Barkemeni reiterated the company’s commitment to providing scholarships to students studying Agriculture at the William V.S Tubman University (TU) in Harper, Maryland County, and promised to employ them upon graduation. 

The CRC official told the Information Minister that CRC currently occupies a total land mass of 25,000 hectares in Maryland County and another 2,000 hectares in River Gee County.

 He thanked the Government for allowing CRC to secure its plantation, noting that the issue of securing land few years ago was very challenging.

He also thanked the communities in which CRC operates for the level of cooperation they share and continue to exhibit, though no relationship can be problem free.

LINA PSN/TSS/PTK