Golden Veroleum is Liberia's largest palm oil company, which started operations in the country since 2010 when it was granted a 65-year concession with 60, 000 acres of land by the Government of Liberia(GoL). Currently GVL is operating in Sinoe and Grand Kru Counties.
The GVL boss attributed the company's major challenges to deplorable road condition that are causing it huge losses.According to him, because of the bad road condition, they are unable to transport their goods from Grand Kru to Sinoe County thus leaving the goods to rot on ground and at the detriment of the entity.Handojo also attributed the company’s challenges to huge spending of money to transport their logistics from Indonesia to Liberia.
He put the total losses as the result of the bad road condition and excessive logistical spending to a cost of over US$3M yearly aside from other challenges.
"Every year, we are experiencing losses for not being 100% able to transport our food from Grand Kru to Sinoe. We have been burying our fruits and cost is more than million dollars lost. It is very sad and we are hoping to gradually improve our operation and have the road rehabilitated,"he lamented.
" Interm of logistics , it is quite expensive than what we spend in Indonesia. Every equipment is being imported to Liberia with no disrespect to what is here. We have to pay significant amount of logistic cost. We are losing US$3million plus every year because of bad road to transport our finished product, which is palm oil and unnecessary logistical spending,” the GVL boss stated. Speaking to journalistsat the head office of GVL in Monrovia recently, CEO Handojo then appealed to the GoLto kindly intervene to see how best the Southeastern road can be rehabilitated, especially the road linking Grand Kru to Sinoe County so as to enable the entity to restore its losses.
"GVL does not want to leave Liberia. We love Liberia and we want to sustain our operations here but the losses are too huge. We expect that the Government of Liberia through the Public Works Ministry play its part to rehabilitate the road because everyone utilizes the road including communities and trucks," noted the GVL boss.
Also outlining the entity's major challenges at the news conference was Mr. Elvis G.Morris, the Vice President for Strategy and Stakeholder, who pointed out thadespite the entity's backwardness due to the road condition and the coronavirus outbreak in country, GVL is constructing a second processing mail in Pleebo City, Maryland County to help alleviate the constraints regarding transportation of their products from Grand Kru to Sinoe County.
The new mail, he said, when completed will not only enable GVL to recover its losses, but will also create room for more employment opportunities for residents in that part of the country. "Today,with all the problems we have, GVL is presently constructing a new mail in Maryland County, because we do have a problem in distance from Grand Kru to Sinoe County in delivery of our fruits to the mail in Sinoe. It is better to shorten the logistical part of it," he asserted.
Meanwhile, the GVL official, among other things,told journalists that the entity is in full compliance of all of the health protocols in the fight against COVID- 19.