IPNews-Monrovia: ArcelorMittal has rejected recent concession agreement entered into by the government of Liberia, through the National Port Authority-NPA and Prista Port Buchanan LLC.
ArcelorMittal in a communication to the Minister of State for Presidential Affairs, Hon. Nathaniel McGill, dated December 12, 2019, a copy of which was obtained by Independent Probe Newspaper, ArcelorMittal objected to the concession on grounds that it includes and overlaps a majority of the current concession area of ArcelorMittal Liberia in Buchanan, Grand Bassa County.
ArcelorMittal Chief Executive Officer, Scott Lowe, stated that the action by the government of Liberia undermines and creates uncertainty regarding the security of tenure of ArcelorMittal Liberia’s business and future investment.
Mr. Lowe, communication further stated that ArcelorMittal have been advised that some portion of the agreement has been executed by the government of Liberia and Prista Port Buchanan LLC, which is of significant in that most of its iron ore and most of its associated facilities of ArcelorMittal is being awarded to Prista Port Buchanan LLC, contrary to its investment concession with the government of Liberia.
Furthermore, the communication said that recently, representatives of Prista Port Buchanan LLC, approached ArcelorMittal in London and asserted that their concession would come into effect and their company would eventually replace AcelorMittal Liberia (AML), as the concessionaire.
“we reject this assertion by Prista Port Buchanan LLC and maintain that no valid concession can ever be granted that overlaps AML’s concession area.
ArcelorMittal communication additionally stressed the importance it attaches to the inquiry by Prista Port Buchanan LLC, and have taken a decision not to go ahead with phrase two of its investment proposal that is currently underway unless and until this situation is corrected.
“The company requires absolute certainty that its concessions and permits are in good standing as an essential component of its business case for investment and cannot consider an investment where security of tenure is in dispute or at risk”. Scott Lowe, letter stated.
The communication has however called on the government of Liberia to meet to beach marks are guarantee to its confidence in AcelorMittal concession agreement.
“Honorable Minister, with this in mind and given the strong and positive relationship between the government and the company, we respectfully request written confirmation that the government of Liberia:
A. Has not ratified, and will not ratify, the Prista Port concession agreement; and
B. Will not grant any concession that overlaps or in any way reduces AML’s concession area while it remains valid.
Meanwhile, AcelorMittal is demanding the government of Liberia that a formal letter and commitments be invaluable in assuring its parent company (ArcelorMittal), that the concession is in good standing and not at risk.
It may be recalled, the Independent Probe Newspaper, reported in its first part series of nine series, a secret concession deal being reached by the government of Liberia and Bulgarian company known as Prista Port Buchanan LLC.
The independent Probe Newspaper in its article captioned: ‘No Respect for Thieves”, The Unspoken Concession Secret in Weah’s Gov’t (Part 1)
IPNews detailed how the Administration of the Coalition for Democratic Change (CDC), is noted for not keeping government secret. Everything that occurs within the ranks and file of the higher-ups is either revealed on Facebook or through secondary sources, talk show hosts or the media.
For the first time in the almost 2-year existence of the Weah-CDC government, officials of the regime have finally succeeded in playing their cards to their chest, in keeping their longest kept secret relative to the Port of Buchanan and the Management Contract that is being awarded to a Bulgarian company, Prista Port Buchanan Incorporated. The company is represented in Liberia by Ivaylo Getsov.
The Independent Probe investigation revealed that the President and the Government of Liberia (GOL) have decided to give the management of the Port of Buchanan to Prista. The negotiation process started since June when some Liberians decided to venture into the international business world to bring investors and investments to Liberia.
The recently appointed, commissioned and Presidential approved Counsel General of Dubai was very instrumental in finding the Bulgarian company to take over the management of the Buchanan Port. The company is to pour millions of US dollars in the renovation work of the port and employ over 500 persons to begin with. There are a lot of rumors about the “intent” of Prista Port Buchanan’s possible money laundering and/or washing bad money clean, but one cannot be judged on mere hearsay or so-called “intent”.
It is also being speculated that the United States Government and the International Monetary Fund (IMF) are opposed to Prista managing the Port of Buchanan. Again, IPNews has no proof or evidence suggesting likewise, but a source in Washington, D.C. hinted the medium that the United States Government may not be opposed but some questions need to be addressed regarding the management contract.
Investigation further suggested that the process of obtaining the Management Contract by Prista Port Buchanan Incorporated is far-fetched. The President of the Republic of Liberia has sent the Management Contract to the National Legislature to be ratified by the Liberian Senate and concurred by the House of Representatives.
Fortunately for the Management Contract, the Senate has had it ratified. However, the Hot Pepper has learned that the Legislature, after its working session today, will go on recess and may not concur with the Senate.
Again, according to IPNews investigation, the Minister of State for Presidential Affairs, Nathaniel F. McGill, has instructed the Speaker of the House of Representatives not to concur with the Senate on the Management Contract.
It is alleged that the President of the Republic of Liberia, George M. Weah, does not want the Management Contract to be concurred with by the House of Representative today, which is causing a serious uproar among senior government officials, especially those in the Senate.
Many senators spoken to expressed serious disgust about the alleged confidential statement coming out of the Executive Mansion to the House of Representatives. This issue is left with many questions than answers, but predominant among the questions being asked are: Why is President Weah requesting the House of Representatives, through the Ministry of State, that the House of Representatives not to concur with the Liberian Senate? Is it not an interference in the work of another branch of government which is supposed to be separate and independent? Before sending the Management Contract to be ratified by the Liberian Senate, did the Executive Branch not do its due diligence? Is there another act of con government actors trying to milk the Bulgarian company for more money by setting up the scheme to delay the House’s concurrence with the Senate?
In this small corporate world, business owners and preferential stakeholders talk to each other; Liberia is yawning for investors and investments but Liberia has a bad record of duping potential investors—requesting for bribes—which has caused many investors with genuine interest in investing in Liberia to leave the country without turning back.
This paper has an ongoing investigation relative to Prista Port of Buchanan, but so far has found no fault of criminality associated with the company. With an active on-going investigation, the initial mindset is that folks at the Executive Mansion has concocted a plan to delay the House of Representatives to concur with the Liberian Senate in an effort to milk more money out of the Bulgarian company.
The Government of Liberia (GOL) has proven, from time in memorial, that national leaders, to a large extent, are con artists but do not uphold the principles of being a con artists. There must be “No Respect for Thieves”. Watch out for Part III (Following the Money Project)
