Liberia Economic News: US CHARGE D’AFFAIRES PRAISES JEETY

…For Economic Empowerment

Monrovia-The Chargé d’Affaires of the United States Embassy, Ms. Catherine Rodriguez, has praised the Indian businessman and philanthropist, Mr. Upjit Singh Sachdeva, for mixing economic empowerment with his investment ventures in Liberia.

Speaking after a tour of Mr. Sachdeva’s more than US$40-million rubber factory processing investment in Weala, Margibi County, Ms. Rodriguez said it’s economic development and empowerment that will provide opportunity for growth in Liberia.

The US Embassy Chargé d’Affaires emphasized that one of the things that the US Government through her embassies advocates for is economic development. According to her, it is one of the things that will push Liberia out of its current state and into the next level of prosperity. “I know Liberia has benefited from foreign assistance for many years, but it’s through economic development that will provide opportunities,” Ms. Rodriguez said.

Turning to Mr. Sachdeva, who is more commonly known as “Jeety,” she added: “Jeety, you have an enviable level of fan based here. I listened to all of the people who spoke here today; it is obvious that your factory here is providing economic opportunities beyond people who worked here to people all in the communities. People are benefitting from the food that you are providing, from the additional money that your employees have to pay school fees, to buy new clothes, etc. Your money here, your investment here, your vision here is something to be admired.” The US diplomat made her audience applauded Mr. Jeety for all that he is doing in their communities.

“As I said there are many business ventures in Liberia, but it’s people like you who will ensure that there is hope, that there is opportunity and that Liberia can be a powerhouse, economically,” Ms. Rodriguez said.

She applauded all the rubber farmers who are selling to Jeety and other buyers and told the Rubber Planters Association of Liberia (RPAL) through its leadership and small rubber farms’ farmers that she looks forward to working with all of them, “to make sure that farmers continue selling but more importantly that farmer continue to make money.”

The US Diplomat emphasized that every country needs farmers: adding: “Farmers are the backbones of any country.”

She thanked the locals for the warmed reception she and her entourage received when they arrived at the entrance of the Jeety Rubber Factory in Weala. She was received traditionally with country rice and kola nuts and was handed a bouquet of flowers.

Responding, Mr. Jeety vowed that with the support of the people, including farmers, he will do what he had said that he will do at his rubber factory.

He stated that at the moment, he is not receiving the quantity of rubber that his factory requires to operate at its maximum. According to him, he needs 225 tons of raw rubber daily.

“In the month of May 2024, I received 2,312 tons of rubber; in April 1,476 tons; in March 1,722 tons; in February 2,494.65 tons and in January 2,696 tons,” he disclosed adding: “because there are lots of challenges, which I am not going to speak to now.”

He told Ms. Rodriguez that he had promised her predecessor, Ambassador Michael McCarthy, that he was going have a rubber factory in Liberia. He said he and Amb. McCarthy had spoken in 2021. According to him, the former US Ambassador to Liberia had told him that his vision was a very big ambition and that it would have been impossible to achieve it in short space a time taking into considerations how some things happen in Liberia. Before Amb. McCarthy’s tour of duty ended in July 2023, he paid Mr. Jeety a visit at the factory in June 2023 and was shocked with the level of investment he saw.

“And, whatever I promised him that time, I achieved. Today, I promise you that if the farming community, if the government just give me the raw materials, I will make the first rubber glove in the country; I will make the first made-in-Liberia tire in the country,” Mr. Jeety assured Chargé d’Affaire Rodriguez as he received rounds of applauds from the farmers and locals.

He used the occasion to call on the Liberian Government to fix the purchasing price of the rubber from the small farmers. He disclosed that he supports the price that the RPAL has proposed. “Let the government fix the price as it is in Ivory Coast. The price difference between Ivory Coast and Liberia is just a couple of dollars that is because processing cost is cheaper in Ivory Coast,” he stated.

The Indian businessman added: “It is because, there is no need [for investors] to provide their own electricity, build road; there is no need to build school. These things come with costs.” This he said apparently because of the many social amenities he has provided for the locals, including building a modern health facility, providing pipe-borne drinking water kiosks for various communities in Weala, constantly making the road pliable, etc. He is also even generating his own electricity to supply power to his processing plant.

In addition to these, he disclosed that at the moment, for him to produce one ton of processed rubber, he spends at most US$212.00; and his generators burn 3500 gallons or 58.3 drums of diesel fuel daily.

In August 2023, he disclosed that his over US$40-million rubber-processing factory investment will generate between US$40 to US$50 million in foreign exchange and contribute substantially to the Gross Domestic Product (GDP) annually for the Liberian government.

In addition to the huge sum of money, Jeety’s company has also employed over 700 Liberians.

Jeety’s Agreement with GOL

It can be recalled that the Government of Liberia, through the 54th Legislature in December 2021 ratified the Jeety Rubber LLC Investment Incentive Agreement for the production of multiple rubber materials.

According to the agreement signed with the government, Jeety Rubber LLC will construct, develop and operate a national rubber processing and production plant for the production of tires and other natural rubber products. It includes long and short rubber goods.

The processing plant is also expected to produce hand gloves, rain boots, and rubber bands, among others.

The company will process approximately 25,000 tons of natural rubber per annum. It compels Jeety Rubber LLC to consider the interest of local rubber traders and others during its purchasing of raw materials.

The factory, which includes warehouses, washing and treatment plants, sits on 13 hectares of property, between two rivers — Weala and Borlor. It is at the moment the largest in the country. The factory building, which is 132,000 square foot in size, is completely prefabricated.

 

 

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