Cement Market in Liberia Opens Up

May 22, 2009

Fortress Group, in Partnership with Liberian Business Partner imports a shipload of Cement MONROVIA, Liberia, May 21 /PRNewswire/ -- After more than four decades of dominance of the Liberian cement market by a single company, a milestone was dramatically accomplished in Liberia on Monday May 18, when the first shipment of 12,500 mt of high grade cement entered the Liberian Port, with another shipload of 25,000 mt scheduled to arrive in June and every month thereafter. The deal was made possible under a JV partnership arrangement between Fortress Group of New York & Hong Kong, and Srimex Enterprises of Liberia. The President of Liberia, Madam Ellen Johnson Sirleaf, who has strongly advocated for free markets for cement and other commodities in Liberia as part of her Government's efforts to rebuild post-conflict Liberia, was on hand at the Freeport of Monrovia to receive the chartered vessel, along with the Minister of Commerce, Government Officials, the management of both Fortress and Srimex, as well as Ms. Morenike Adepoju, the Managing Director and other staff from Ecobank Liberia who made financing the transaction possible. Beaming with pride, the President firmly declared "...the market for cement is open, and all of our people stand to benefit, this has always been a goal of this Government."

More