Capitol Hill, Monrovia – Representative Thomas Goshua (District #5, Grand Bassa County) is rallying support from his colleagues for the House to concur with the Senate in ratifying the concession agreement between the Government of Liberia and Prista Port Buchanan LLC.
The agreement is valued at US$277 million and will last for 25 years. During this period, Prista Port Buchanan LLC will be obligated to develop, operate, manage and optimize the operation of the Port of Buchanan.
The concession agreement was sent to the Legislature in 2019 by President George Weah for ratification. It was ratified by the Senate and forward to the House of Representatives for ratification.
However, the agreement has been in committee rooms undergoing scrutiny and was place on the floor on Thursday, January 11 for concurrence.
But members of one of the lead Committees, the Committee on Ways, Means and Finance, protested they were not part of the scrutiny of the agreement when it was in being debated in committee rooms. This prompted plenary to delay its passage.
However, addressing a press conference on Wednesday, January 16 Representative Goshua noted that with the inclusion of the Committee on Ways and Means, the agreement is expected to be approved.
He thanked House Speaker Bhofal Chambers and the joint committee comprising of Investment, Judiciary and now Ways, Means and Finance for diligently reviewing the document and advising plenary to concur.
According to Rep. Goshua, when the agreement is ratified, Prista Port Buchanan LLC will create over 1,000 jobs and improve access to health and education.
The concession is also expected to modernize the port of Buchanan and increase its capacity from 3.5 million tons to nine million by 2041, and this include the construction and operation of several construction manufacturing facilities.
Among them, motor oil production and provision of utilities such as electricity to the surrounding areas.
It can be recalled that the act to ratify the concession agreement between National Port Authority and Prista Port Buchanan LLC was sent to the Legislature in 2019 by President George M. Weah.
President Weah, in a communication accompanying the act, stated the improvement and efficiency of the Port of Buchanan is essential in supporting the Government’s long term aim to export iron ore from both Nimba and Guinea, as well as improving infrastructures for importing and exporting other goods.
According to the President, the main business focus of the concession is in the export of iron ore, supporting the strategic aims of the Government.
He added that Liberia will receive hefty revenues in performance fees, whereby the concession shares 50 percent of berth fees, and US$0.25 percent per metric ton of cargo shipped, with the Government alongside substantial corporate income tax of around US$145 million.
Meanwhile, Rep. Goshua thanked the President for his farsightedness and urged his colleagues to do due diligence and concur with the Senate.
“We want to thank the President because since the news of Prista, we have been receiving calls from Grand Bassa County and I know when this is approved, our people will benefit,” he said.
Also speaking, Rep. Francis Dopoh (District #3, River Gee County) joined his colleague to call on plenary of the House to concur with the Senate.
Rep. Dopoh Stated that agreement will create job and improve the economy
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