Weah Dedicates Multimillion-Dollar Steel Manufacturing Plant

first_imgWeah cuts ribbon to the Multi-Million Steel manufacturing company in Gardnersville, Montserrado County.— Hundreds Liberians to get employmentThe struggling Liberian economy has been given a bit of a push by Sethi Ferro Fabrik Incorporated, the oldest Indian investment in Liberia that pumped millions of dollars in constructing the nation’s first giant size steel manufacturing plants—an investment that comes with huge employment benefits.The multi-million dollar plant was dedicated on Tuesday, July 23, 2019 by President George M. Weah as part of the festivities in observance of the country’s 172nd Independence Day celebration.The program was witnessed Y. K. Sailas Thangal, Ambassador Extraordinary and Plenipotentiary of India accredited to Liberia, Commerce and Industry Minister Wilson Tarpeh, Foreign Minister Gbehzohngar M. Findley, Minister of State Nathaniel McGill, Senator Prince Y. Johnson of Nimba County and other officials of government.At the dedication, President Weah pledged the government’s commitment to provide the atmosphere for continued business by Sethi Ferro Fabrik Incorporated and other businesses.“For Liberia to be better and the economy to grow,” the President said, “we must be mixed with different economic powers that will have the same value and strengthen us, Liberians.”“Why do you say that Lebanese cannot be citizens? If they come and work, they will take the money to the country where they are citizens. They will be depleting us by generating ten billion in Liberia, they will take it to Ghana where they are citizens because they are confidence of ownership,” President Weah said.According to President Weah, for proposals of such ideas that will give the Liberian economy a boost, these are some of the problems. “Why are we afraid of other nationals to build their capacities in Liberia?” he asked.He said today Liberia produces rubber but does not have even a shoe factory. “Today we have iron ore and are proud to announce that Liberia has a steel factory and this is the right way to go.”Weah Speaks at the dedication of Sethi Ferro Fabrik steel plant in Monrovia.Jay S. Khanija, director of the Sethi Ferro Fabrik Incorporated, said the company is prepared to use Liberia’s iron ore to produce various steel products.Mr. Khanija, who is also the son to Sethi, said the company’s goal is to lead the way for value addition and local manufacturing in the country, an initiative that the company has started already.Mr. Khanija said the project will need the support of everyone as there will be no need to export scrap as Sethi Ferro Fabrik Incorporated is prepared to buy all, including heavy mental scrap.“We needed to invest in programs that bring broader economic value to Liberia. Few years ago, we also started the production of plastic products in Liberia and today we are starting the production steel rods in Liberia. We are using scrap to produce steel rods,” he said.According to him, by producing things locally will save the country on foreign currency and provide more jobs to Liberia, while exporting to other countries. He said the factory has employed over three hundred Liberians who, through their training, have learned very fast and will replace most of the expatriates.He said for any country to truly develop and transform, it must engage in value addition, which the Sethi Ferro Fabrik intends to lead.He said the company is proud to be part of the Coalition for Democratic Change (CDC)’s Pro-poor Agenda for Prosperity and Development under the leadership of President Weah.Mr. Khanija is among the two children of Sethi who were raised in Liberia. He said their father has informed them that in order to demonstrate their love for Liberia, they need to take their investment to another level, which has given birth to the steel company.Mr. Khanija recounted how his father came to Liberia in the late 1970s and the family has been in Liberia, including the days of the war and also considered Liberia as their home.He expressed gratitude to the Liberia Bank for Development and Investment (LBDI) and Ecobank Liberia for helping to bring the factory to reality.Upjit Singh Sachdeva, Honorary Consul General of India in Liberia, said the Sethi Brothers has moved to another level in the industry by providing substantial amount of resources to the establishment of a state-of-the-art company.Mr. Sachdeva said Sethi Brothers is the oldest Indian investment in Africa and Liberia in Particular. He said the company has also played major role in the commercial sector and today has made a remarkable move from the trading sector to the manufacturing sector.He said the benefits of the trading and manufacturing companies by Sethi Brothers cannot be over emphasized, stating “these investments, especially the steel manufacturing company, responds meaningfully to the CDC’s Pro-poor Agenda for Prosperity and Development.”Mr. Sachdeva said the steel company is expected to create full-time jobs for 500 Liberians, stating that the management of the factory will work assiduously to raise the speed level of the Liberian employees.“Moreover, the factory will meet the steel needs of the entire country’s construction and reconstruction, as well as enough for export abroad, particularly sister countries in the Economic Community of West African States (ECOWAS) and the Mano River sub-region,” he said.According tom Mr. Sachdeva, the steel company will help Liberia to generate not only enough foreign exchange, but will also serve as the result of the import substitution economic activities enjoyed by these manufacturing sectors.“This will reduce the pressure on the value of the Liberian dollars and lower the inflation, thereby significantly enhancing the Liberian economy as a whole,” Mr. Sachdeva said.Representatives of Sethi Ferro Fabrik, Indian Honorary Consul Sachdeva and officials of the Liberian government at the newly dedicated steel plant in Monrovia.Share this:Click to share on Twitter (Opens in new window)Click to share on Facebook (Opens in new window)last_img read more

Wal-Mart challenges documentary

first_imgSPRINGFIELD, Mo. – Wal-Mart Stores Inc., under a new barrage of criticism for how it treats its workers, is going on the offensive a week before the launch of a documentary that attacks the retail giant. The company alleges that director Robert Greenwald’s movie “Wal-Mart: The High Cost of Low Prices” gets basic facts wrong. The world’s biggest retailer and largest private employer in the United States, with 1.2 million domestic workers, is also touting a rival DVD release, “Why Wal-Mart Works: And Why That Drives Some People C-R-A-Z-Y”. “I’m a bit surprised at the amount of money that they are spending in attacking me,” Greenwald told The Associated Press in a telephone interview Thursday. In a media packet sent to news organizations this week, and on its Internet site, Wal-Mart says it has only seen trailers for the Greenwald movie but dismisses it as “a propaganda video.” AD Quality Auto 360p 720p 1080p Top articles1/5READ MOREWalnut’s Malik Khouzam voted Southern California Boys Athlete of the Week “We have seen the trailers and some ‘bonus’ footage, and it’s already obvious that Mr. Greenwald has a careless disregard for the facts,” Wal-Mart said in a news release. Greenwald’s movie will have a limited release Friday in New York and Los Angeles and then go to a week of screenings across the country organized by Wal-Mart critics including unions. Greenwald, who produced and directed “Outfoxed: Rupert Murdoch’s War on Journalism,” says none of the $1.8 million in private financing for the film came from organized labor. Organizers expect about 40,000 people at 7,000 DVD screenings in the week starting Nov. 13 in churches, homes, libraries and universities nationally. “The movie Wal-Mart doesn’t want you to see” is what campaign group Wake-Up Wal-Mart calls Greenwald’s film in a national ad campaign that will start next week. The group funded by the United Food and Commercial Workers is helping promote the movie with a series of print, online and broadcast ads. The film uses interviews with small-business owners, ex-Wal-Mart workers and managers, community activists and workers in overseas factories to allege that Wal-Mart’s low-cost, low-price business model is bad for communities, the economy, its employees and their families. Wal-Mart said it has no plans to sell DVDs of the positive film on Wal-Mart in its stores, but they can be purchased on www.whywalmartworks.com. DVDs of Greenwald’s movie can be purchased on www.walmartmovie.com. 160Want local news?Sign up for the Localist and stay informed Something went wrong. Please try again.subscribeCongratulations! You’re all set!last_img read more