Sethi Ferro Fabrik Incorporated is one of the country’s long- standing business partners.
The modern steel rod factory is the first to be built and operated in the country.
Performing the dedication of the factory, President Weah thanked the management of Sethi Ferro Fabrik Incorporated for undertaking such a huge investment in the country.
“I am glad today that, in my time, Liberia has got the first steel rod factory,” the President said.
According to him, the construction of factory would change the paradigm of trade in a country that has long depended on imported goods and materials.
“All we know in this country is that we import steel rods and other things from Ghana and elsewhere,” he said happily. “Today, I am proud because I can tell Ghanaians that we are now a steel rod producing country.” He pointed out
The President expressed the hope that the construction of the steel rod factory, which is a big investment by an Indian-owned company in Liberia, would positively impact the economy.
“We, Liberians, blame the Fulanis; we blame the Lebanese and the Indians. Why are we blaming these people for our economic woes?” the President quipped. “I understand the banks are losing customers simply because those who have the financial capability are of different nationalities. It’s time for Liberians to develop confidence in their own economy and in their own government. It’s time for Liberians to take initiatives.”
President Weah said in the situation where the Lebanese, Indians and Fulanis are not citizens, they will only work here and eventually wire their monies to their respective countries, apparently referencing Liberia’s laws that abhor dual citizenship.
Earlier, the Director General of the Sethi Ferro Fabrik Incorporated, Mr. Jay S. Khanija, thanked President Weah and the Government of Liberia(GoL) for creating the enabling business space that enabled them to reach a relatively high level of development in Liberia.
Currently, the company has over 300 Liberians in the employ of the new steel rods factory and is expected to employ up to 500 Liberians.
Sethi Ferro Fabrik, Inc., which will be using scraps for the production of steel rods, also appealed to the President to use his offices to help them acquire iron ore in the near future to enhance their business.
The steel rod factor dedication program is one of the many activities characterizing celebration of the 172nd Independence Day.
Meanwhile, the dedication ceremony was attended by several officials of government, members of the diplomatic corps and the business community.