Monrovia-One of India’s top businessmen who has been in Liberia for over three decades, Mr. Upjit Singh Sac deva has embarked on a US$25m investment for the construction of Rubber Processing Factory in Cita, Margibi County. When completed in 2026, it will be the first tyres production company in Liberia.
Liberia has one of the largest rubber plantations in the world, operated by Firestone, and Bridgestone. But it does not produce any rubber products. The Factory, if starts operations, will mean a boost to the rubber sector and help improve the economy.
The disclosure was made by Mr. Jetty to media executives during a tour at the construction site.
According to him, the Factory when completed will include warehouses, washing and treatment plants. He said the Factory is located on 13 hectares of property with the building of about (132,000 sq ft)
The Factory is constructed by Jetty Rubber LLC which entered into a concession agreement in December 2021.
He said in the agreement, his company will construct, develop, and operate a national rubber processing and production plant to produce tyres and other natural rubber products.
The company is expected to process approximately 25,000 tons of natural rubber per annum.
Not only that, but also will produce hand gloves, rain boots, and rubber bands, among others. His company is intended to purchase rubber from local farmers.
Also speaking to media executives during the tour, Senator Henry Yallah
Chief Executive Officer of Farmers Hope said his institution has a one-year agreement with Jeety Rubber to use the facility to purchase his rubber latex from local farmers and pay an annual rental fee of US$1.00 for usage. The agreement is subject to annual revision
Senator Yallah said, “this place is operated by Farmers Hope and the Farmers Hope company is owned by me. This company has been here for little more than one year this is 2022, and we started 2021 February.”
“So, when Mr. Jeety brought his factory here, he asked us as a company to come here and start to buy here to open a lead way so that when he starts his rubber processing, the farmers will already know his place,” Sen. Yallah said.
The investment has been greeted by locals in the area with joy and seen as a sign of relief as explained by Cita District Commissioner, Roland Johnson. “This investment will bring, some economic relief for the citizens in the area.
He added that Jeety was working on establishing a clinic in the village with a Pakistani Doctor already to be a resident Doctor to run the clinic when completed.