Liberia to get First Modern Commercial Inland Storage Facility
Monrovia — The Global Logistics Services (GLS) Group and InfraCo Africa (A PIDG subsidiary) shareholders of the joint venture the company, Liberia Inland Storage and Distribution Services (LISDS) have broken ground for the construction of Liberia’s first modern commercial inland storage facility Tuesday, March 9, 2021.
The ground-breaking which took place at the Monrovia Industrial Park in Gardnerville brought together several individuals from both the government and the private sector including British Ambassador to Liberia, Neil Bradley.
Despite significant investment into port and road infrastructure in recent years, there is an identified shortage of storage and other logistics infrastructure required to complement the supply and export value chains and ensure the trade is handled professionally.
Without such infrastructure, costs continues to increase, businesses struggle to transport their products in a timely fashion and consistent delays exist in delivering basic food supplies, livestock and animal products to Liberia’s consumers.
The Inland Storage Facility when is completed will respond to the limited storage, distribution, and logistics infrastructure within the Manu River Union (MRU).
The facility is valued at over US$8 million. It will house the warehouse operations of LISDS and will incorporate state-of-the-art inventory management systems, loading and unloading capacity, the LISF will be the first of its kind to meet the needs of small and medium enterprises (SMEs) and of larger companies in Liberia.
It will also provide businesses with approximately 4,600m of flexible, high-quality, secure storage, reducing supply chain losses, stabilizing prices, and contributing to Liberia’s wider economic growth.
The facility, when completed will also allow for the inclusion of alternative storage solutions in the future, such as the temperature-controlled capacity for the storage of food and pharmaceutical products – to meet the evolving needs of Liberia’s businesses.
Speaking at the event, the British Ambassador to Liberia, Neil Bradley commended GLS, the private infrastructure development group, InfraCo Africa, BMC Group, and CARES UK for constructing what he terms as an important milestone.
He said: “Although we’re breaking ground today, the foundations for the success of this project have already been laid, noting that “LISF project demonstrates the vision, entrepreneurship and partnership needed to develop Liberia’s economic infrastructure, harnessing local and international expertise and finance.”
Ambassador Bradley said for Liberia to grow and prosper, and provide jobs and livelihoods for ordinary Liberians, it needs to attract public and private sector investment, at home and from overseas.
He added: “I’m pleased that InfraCo Africa, a private company with public funding from the United Kingdom Government is supporting this investment.”
The project, according to Ambassador Bradley, will set a new standard as Liberia’s first commercial open-access storage facility, providing 4,600m³ of flexible, high-quality, secure storage with state-of-the-art systems. And mindful of the challenges of climate change, a rooftop solar-hybrid system will provide the primary source of power for the facility, cutting carbon emissions. It’s a project both of its time and for the future, he said.
Nabil Saimi, Head of Business Development at InfraCo Africa lauded the commitment of the partners in ensuring the successful implementation of the project and reiterated InfraCo’s commitment to Africa and headlined the funds over US$2 billion investment portfolio including multiple projects in the renewable energy space, transport and affordable housing.
Head of Business Development at InfraCo Africa reassured that InfraCo Africa intends to invest in other projects in Liberia.
Also speaking, LRA boss, Thomas Doe Nah congratulated the GLS, InfraCo Africa on behalf of the Government of Liberia for undertaken such a milestone project in the country.
He used the occasion to call on InfraCo Africa and his partners to diversify in other areas in the country’s economies, “so we are looking forward to engaging on this while at the same time engaging the GLS team in terms of where we all want to go.”
Commissioner Doe Nah said thought nobody likes the taxman, but for the LRA there are quite appreciable in a way that they will grow businesses in the country.
For his part, Thomas Goba, Deputy Commerce Minister assures the chairman of GLS that the government through the MOCI will support the cause adding that it is a development within the will benefit the country.
“Your coming to Liberia clearly indicates that the government is investment friendly, and trusts worthy that you can come and invest and we will closely work with you as we have started because this is an opportunity that will employ a lot of young people,” he said.