Monrovia—Western Cluster Liberia Limited (WCL) has announced a plan to invest $2bn in the next five years as part of the company’s commitment to boost economic revitalization and foster socio-economic development in Liberia.
By Selma Lomax, [email protected]
Mr. Navin Jaju, chief executive officer of SESA GOA, the parent company of Western Cluster Liberia, and Christopher Griffith, CEO of Base Metals, Vedanta, made the pronouncement during a meeting with President Joseph Nyuma Boakai in Monrovia.
Mr. Jaju promised that Western Cluster Liberia is committed to playing the role of a catalyst in fortifying the key growth pillars outlined by the new government through the investment of US$2bn in the next five years to boost the economic revitalization of Liberia, despite the company contributed over $300M towards the socio-economic development of the region since 2011.
Western Cluster Limited (WCL), Mr. Jaju said, as a subsidiary of Vedanta Sesa Goa and a key player in Liberia’s mining sector, is set to embark and act as a catalyst to Liberia’s growth trajectory charted by the new Govt. with an investment of US$2 billion to propel socio-economic development in Liberia.
As part of the effort to align with President Boakai’s vision to revitalize the nation’s economy and combat challenges such as poverty and diseases, Western Cluster Liberia has expressed its commitment to contributing to the key growth pillars outlined by the new government, including macroeconomic stability and infrastructural development.
The company also expressed commitment to prioritizing health, sanitation, environment, and climate change initiatives, human capacity development, governance and rule of law enhancement, and women empowerment, youth, children, and social protection initiatives.
“I had an extremely fruitful discussion with His Excellency President Joseph Nyumah Boakai, and am grateful to him for his guidance and for his inspirational leadership in working jointly towards Liberia’s progress, prosperity & economic growth. We are committed to Liberia’s growth trajectory & aspirations of the Liberian people, aligning with President Boakai’s vision for sustainable growth through strategic partnerships and responsible operations.” Mr. Jaju side after meeting with Pres. Boakai.
He added: “We are delighted to be a part of the socio-economic development of Western Liberia and going forward, we are on course for an investment of up to US$ 2 billion in WCL and aim to act as a catalyst to unlock Liberia’s economic potential and empower local communities through expansion of operation, thereby, generating numerous employment opportunities.”
He said his company is in Liberia for the country’s progress and prosperity and will always keep the interests of Liberia foremost and extended gratitude to host communities for their support and looks forward to such continued support.
The meeting with President Boakai follows the restoration of the Western Cluster Road User Permit, which was suspended on May 3, 2024, due to the President’s dissatisfaction with the company’s use of heavy-duty trucks that were damaging the road.
In the communication dated June 5, 2024, addressed to Joseph Coelho, Western Cluster’s Chief Executive, Public Works Minister Roland Giddings stated that the restoration of the Road User Permit is contingent upon the company’s compliance with providing $200,000 for the repair of the road from Klay Junction to the St. Paul Bridge and the receipt of the assessment report for the railway bridge parallel to the St. Paul Bridge. The minister indicated that this communication serves as official notification that the company’s Road User Permit (RUP-220620-004), suspended on May 3, 2024, is now restored.
Vedanta Sesa Goa CEO recalled that since its inception in 2011, WCL has invested over $300 million towards the socio-economic development of the region, which includes substantial contributions to community development funds and critical infrastructure projects.
He disclosed that as part of the company’s support to host communities, it is currently initiating several projects including infrastructure development, community engagement, and generating employment opportunities for local communities.
About Vedanta Sesa Goa
Vedanta is the world’s second-largest integrated zinc producer, the third leading silver producer, and has secured 3rd place in the S&P Global Corporate Sustainability Assessment (CSA) 2023 in the Metal and Mining sector among 238 global companies, while Vedanta’s Group Company, Hindustan Zinc Limited, the world’s second-largest zinc producer, led the score rankings with 1st position in the sector.
In addition, Vedanta Aluminium, India’s largest aluminum producer, topped the rankings as the world’s most sustainable aluminum producer.
It is India’s largest and the World’s 6th largest Aluminium and alumina refinery. It also has over 2000 MW renewable energy projects in progress and is one of the largest private sector power generators. It is India’s largest private-sector crude oil producer & it has a presence in Zambia, Namibia, and South Africa while exploring other investment areas.
Sesa Goa Iron Ore, a Vedanta Group company, is engaged in the exploration, mining, and processing of iron ore. The company was founded in 1954, as Scambi Economici SA Goa.
Since then, it has grown to be one of the top low-cost producers of iron ore in the country. During 1991-1995, it diversified into the manufacture of pig iron and metallurgical coke.
It has also developed indigenous and environment-friendly technology for producing high-quality metallurgical coke. Sesa Goa Iron Ore also has a 65 MW power plant that produces clean power by using the waste heat recovery from its coke ovens and blast furnace gas.
In 2007, it became a majority-owned subsidiary of Vedanta Resources Plc., when Vedanta acquired a 51% controlling stake from Mitsui & Co., Ltd. In June 2009, Sesa acquired VS Dempo & Co…
