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HomeLocal NewsMid-Term National Development Plan…Economic Development Minister Raps on Achievements

Mid-Term National Development Plan…Economic Development Minister Raps on Achievements

By Mohamed Kamara

The Minister of Trade and Industry, Dr. Hinga Sandy on Thursday 6th January 2023 has signed agreement with four investment companies to operate in the country.

He disclosed that the move is to accomplish President Bio’s Mid-Term Development Plan which he introduced in 2018 and gave the responsibility to the Ministry of Planning and Economic Development to map out the strategic plans.

The Minister of Trade made this statement at the usual Thursday press briefing organized by the Ministry of Information and Communications.

Profile of the companies are as follows: Gold Tree (SL) Limited, A Limited Liability Company established under the Companies Act No. 5 of 2009, and registered under the laws of Sierra Leone with Company Certificate Registration Number C.F 373/2007 and with its office at Old Mill Road Daru, Jawei Chiefdom Kailahun District Sierra Leone.

The Company was established in 2007 as a specialized company in the cultivation of high yielding oil palm and extraction of organic and Round Table on Sustainable Palm Oil (RSPO) fairly traded crude oil palm with a market penetration price that will not only ensure sustainable product availability. 2011-2020 the Company started its palm oil project by conducting technical and environmental studies to confirm the feasibility of a palm oil project in Sierra Leone from the perspective of soil quality, Climate, Environmental conditions, Road and Shipping logistics. It is presently exporting to the sub-region and locally thus, With an investment capital of Twenty Million United States Dollars (US$ 20,000,000), The Company is desirous and committed undertake and own as property, the Project to construct, Develop and establish the infrastructure and install and operate a facility for Fresh Fruits Oil Palm Bunches Production, packaging and distribution with a direct and indirect employment capacity of 40,000 people.

Sol Co is an affiliate of WENPENG GROUP, an International Company from China engaged in production, Manufacturing, Trade and Port Logistics. At present, the group have branches in more than twelve (12) countries in Africa and Latin America.

The Parent Company WANPENG Group has built six (6) cement manufacturing plants in Africa since 2003, with its recent factory established in Guinea Conakry. SOL CO (SL) Limited has a plan investment of Forty Million USD ($40,000,000) to develop a cement Manufacturing Factory in Sierra Leone that will be operated within a period of 36 months, a fully functioning Cement manufacturing Industry in the Western Area of Sierra Leone.

The Company is a Limited Liability Company established under the Companies Act No. 5 of 209 and registered under the laws of Sierra Leone, Situated at 7 Lumley Beach Road Aberdeen, Freetown.

RANDCEM is an affiliate of FAWAZ Building Materials, a household name in the local commodity trading especially in hardware and construction equipment. At present the group has branches in all major headquarter towns of Sierra Leone. It desire to invest Thirty Million United State Dollars ($30,000,000) and seeks to establish a Cement Manufacturing Grinding Ball Mill Plant with annual capacity of 350,000MT in Sierra Leone within a period of 36 months.

ROCKCEM (SL) LTD, is an affiliate of Mega Cola Company that has been operated in Sierra Leone for over fifteen years. The Company has the potential to establish a Cement manufacturing Factor and has an investment level of Twenty-Five Million United State Dollars ($25,000,000) with a capacity to process up to 500,000 metric tons per year. The Company will operate in two phase, first start with the importation of Cement in large bags and repackaged locally into 50kg bags while the second phase is to construct a Cement Processing (grinding) plant in Freetown.  

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