December 12, 2008

Seaboard to invest US$40 million in Liberia


US conglomerate, Seaboard Corporation, plans to invest over US$30-40 million in Liberia, said Government Affairs of Seaboard Corporation vice president, Ralph L. Moss.


Moss said Seaboard Corporation has an investment proposal that intends to cover three activity areas that include, developing and operating a bulk grain terminal, developing a flour mill/feed mill complex, and operating the commercial port of Buchanan, Liberia's second largest port.


Seaboard Corporation once owned and operated the National Milling in Buchanan, Grand Bassa County, but it sold off the firm in 1989 and left Liberia.


Moss said his company is committed to invest in Liberia again, especially in Buchanan City, which is situated at a strategic location for the kind of business Seaboard intended to do in the country.


National Investment Commission (NIC) chairman, Dr. Richard Tolbert welcomed the return of Seaboard Corporation and discussions are underway between the Liberian government and the investors on several issues relating to the operation of the company.


Tolbert said even though many investors now are turning their backs to return to their various homes due to the global financial crisis, the NIC see no misjudgements or lack of interest of Seaboard.

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