By Bill W. Cooper
Gbarpolu County Senator, Amara Konneh, has raised several concerns over the expected investment deal between the government of Liberia and High-Power Exploration (HPX) Company.
He said, though he welcomes the HPX announcement by the President’s office, HPX could have opted for said option a long time ago, something of which he said there would have been no issues.
Over the weekend, President Boakai held discussions with Executives of the High-Power Exploration (HPX) Company for possible investment in Liberia.
HPX is seeking to construct a railway from Guinea through Liberia for the transportation of iron ore from Guinea to the Port of Buchanan for shipment.
The Liberian leader said when agreed upon, the investment will impact Liberia through the creation of job opportunities and other infrastructure.
He underscored Liberia’s aspirations for economic progress, while emphasizing a zero-tolerance stance towards corruption within his administration.
Boakai added that the country and its people are resolutely committed to seeking economic development, but in a fair, transparent, and credible manner.
HPX Founder, Robert Friedland, on the other hand, expressed optimism about Liberia’s abundant natural resources and untapped agricultural potential, pledging to contribute to the government’s development agenda.
But giving his perspective about the deal yesterday, the Gbarpolu County Senator stated, “We caution that we pay attention to any potential debt implications that could affect the balance sheet of the country, given the US$37 million framework agreement that HPX signed with the immediate past regime.”
“Hopefully, this deal is purely financed by the private actors without the sovereign issuing any form of guarantee whatsoever because we are committed to giving this deal the highest scrutiny in the Legislature, consistent with our laws,” he said.
According to Konneh, beyond examination of the financial aspects, he and his colleagues also intend to probe into the socio-economic benefits for citizens.
He wondered, “What plans exist for people displaced by the railroad? What plans are there for economic activities along the corridor? What are the plans for local businesses to access the rail line?”
“Does it include investing in the Port of Buchanan to increase its berthing capacity? What roles will Liberians play in the construction and management (short and long-term) of the Liberty Corridor? By this announcement, has HPX now moved on from the existing railway to constructing a new rail and port?
We anticipate a frank and detailed review of the agreement to ensure transparency and public disclosure of the deal – from the financing to economic analysis, and impact on the lives of Liberians. As it is always said, the devil is in the details,” Konneh added.
