Sime Darby take-over
Monday, 4th January 2010
The
Government of Liberia is pleased to announce that on January 1, 2010, Sime
Darby Berhad, a Malaysian Company took over the Management of Guthrie Rubber
Plantations Company.
On
April 30, 2009, the Government of Liberia signed a US$847 million Concession Agreement
with Sime Darby for the cultivation of oil palm and rubber in four counties of
Sime
Darby expects to employ approximately 22,000 employees over a period of 10
years.
Under
the Renegotiated Concession Agreement, Sime Darby is required to construct one
centrally located hospital with basic facilities within 10 years and adequate
out-patient clinics in the areas to be developed. Spouses, dependents and government officials
assigned in the Concession will benefit from the services.
It
is agreed that the Company will build five kindergarten schools, five primary
schools and five secondary schools.
Primary and high school education will be provided free-of-charge to
each person who is a dependent.
According
to the Agreement, the Government of Liberia will provide Sime Darby 220,000
hectares of land for the cultivation of rubber and oil palm in the four
counties.
Of
this area, 120,000 hectares was originally provided for under the terms of the
Original Concession Agreement and an additional 100,000 hectares is being
provided in consideration of the Investor’s commitment to construct and operate
a vegetable oil refinery in
Additionally,
Sime Darby will develop 44,000 hectares for Out-growers in both oil palm and
rubber, thus bringing the total concession area for development to 264,000 hectares.
With
regards to value addition, Sime Darby plans to construct eighteen (18) Oil Mills,
one Vegetable Refinery, one Kernel Crushing Plant and one Rubber factory.
Agriculture
Minister, Dr. Florence Chenoweth said the commencement of the implementation of
the Agreement will significantly reduce the unemployment rate and create a
positive impact on the Poverty Reduction Strategy (PRS).
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