Sierra Leone’s President, His Excellency President Dr. Julius Maada Bio launched the nation’s first-ever iron rod manufacturing manufacturing unit, owned by Odhav Multi Industries (SL) Restricted, reaching a historic industrial milestone. The ability is projected to avoid wasting the nation between US$250 million and US$500 million yearly in iron rod importation prices whereas decreasing dependency on overseas change.
In his keynote tackle, President Bio emphasised that the manufacturing unit represents a big leap ahead within the nation’s industrial improvement and financial self-sufficiency. He famous that the ability, which is able to produce 120,000 metric tons of iron rods yearly, aligns together with his administration’s imaginative and prescient of fostering a thriving manufacturing sector and attracting overseas funding.
“This launch marks a brand new period of business take-off for Sierra Leone,” the President declared. “We’re dedicated to unlocking alternatives for overseas investments, and our insurance policies are tailor-made to help sustainable industrial development. The presence of Odhav Multi Industries underscores our readiness for industrial transformation.” He stated.
The President acknowledged challenges confronted by some factories, together with power constraints, and reassured stakeholders of his authorities’s plans to handle these points promptly. He urged the residents of Koya Chiefdom to safeguard the manufacturing unit’s belongings, underscoring the corporate’s important funding in the neighborhood.
President Bio reiterated his administration’s dedication to fostering a conducive setting for private-sector development and overseas funding. He assured buyers that the federal government would proceed to implement insurance policies and incentives to help manufacturing industries like Odhav Multi Industries.
“That is the Sierra Leone we’re constructing—a nation the place the non-public sector thrives, and our manufacturing industries compete globally,” the President concluded.
The Minister of Commerce and Trade, Ibrahim Sesay, hailed the manufacturing unit as a testomony to President Bio’s imaginative and prescient for industrial self-reliance, highlighting how his administration has facilitated the institution of 30 manufacturing factories since he took workplace, creating over 25,000 jobs nationwide.
“The iron rods produced by Odhav Multi Industries is not going to solely save Sierra Leone $300 million in annual importation prices but in addition ease the stress on overseas change,” Minister Sesay said. He famous that substandard imported iron rods, a few of which fall in need of worldwide requirements, have plagued the native market however emphasised that his ministry is now strongly collaborating with the Sierra Leone Requirements Bureau to make sure high quality management.
Odhav Multi Industries is ready to provide not solely iron rods but in addition nails, wire meshes, binding wires, and industrial gases akin to oxygen and nitrogen. Resident Minister for the North-Western Area, Ambassador Umaru Bond Wurie, praised the enterprise for its potential to scale back overseas change dependency whereas contributing to the district’s improvement.
“The Port Loko District has witnessed important progress below President Bio’s management, together with the institution of a brand new airport, the primary women’ college, and a 100-bed hospital,” he remarked.
Chairman of Odhav Multi Industries, Nilesh Katarmal, attributed the corporate’s institution to President Bio’s investor-friendly insurance policies. He highlighted ongoing plans to develop into renewable power sectors, akin to photo voltaic and hydro power.
“We’re dedicated to producing high-quality iron rods at reasonably priced costs whereas contributing to Sierra Leone’s industrial development,” Mr. Katarmal said.
Paramount Chief of Koya Chiefdom, Bai Kompa Bomboli IV, counseled President Bio for his dedication to the district’s improvement and known as on residents to help the manufacturing unit. He emphasised the significance of guaranteeing the safety of the ability to maximise its long-term advantages for the neighborhood.
The institution of Sierra Leone’s first iron rod manufacturing manufacturing unit indicators a transformative step in direction of industrial self-reliance, decreasing import dependency, creating jobs, and boosting the native financial system.
Distributed by APO Group on behalf of State Home Sierra Leone.