Kingho Port and Rail Company Limited, a subsidiary company of Leone Rock Metal Group (LRMG), has invested over US$150M to upgrade and reconstruct the Railway and Port facilities to international standards in Sierra Leone.
The Kingho Railway and Port Company Limited on Saturday 8th April, 2023 launched the upgrading and reconstruction project of Railway and Port Operations with a total investment of US$ 153 million to international standards.
It is one of the largest resource investment companies in West Africa. The new agreement promises to produce proven reserves of 15.8 billion tons of iron ore, increasing to 30 billion-plus, the single largest operation of its kind in West Africa, at the iron ore rich Ferengbeya, Tonkolili District, following further exploration.
The launch attracted key stakeholders from the Government of Sierra Leone (GoSL) and the Government of the People’s Republic of China, marking the significance of the investment that will contribute to job creation and economic growth in Sierra Leone.
The agreement will allow Kingho Railway and Port Company Limited to manage and operate the infrastructure. The agreement also makes provision for Kingho to haul the commodity of any other company along the rail corridor under a commercial agreement. The Railway and Port Operation plays a very important role in the company through the transportation of Iron Ore from the Tonkolili iron ore mine to the Port of Pepel in Port Loko District.
The Railway and Port serve as an important component in maintaining and developing the company’s project as well as boosting Sierra Leone’s economy. The company is trying to build a solid foundation for its success in compliance with all government and local regulations and laws and in a transparent manner for the benefit of not only the company but also the people of Sierra Leone.
LRMG and its subsidiary companies continue to make history in the Sierra Leone mining industry under the visionary leadership of His Excellency President Dr. Julius Maada Bio for modernization and expansion in the mining sector in the interest of the country.
However, the question many right-thinking Sierra Leoneans are asking is, why do we ignore or abandon a company that has manifested many tangible investment potentials that are beneficial to Sierra Leoneans and the country for another company whose investment potentials are yet to be actualized?
“I am here representing the Government and people of Sierra Leone and I am pleased with the company’s strategic plan to expand the Rail and Port so that other users can have access and work collaboratively with LRMG,” a government representative averred. The representative stressed that mining is very vital and as a Government, they would support LRMG to improve the shipping capacity of the Port and reconstruction of the Rail.
According to the government representative, who asked for anonymity, “We are happy with the investment; we are ready to collaborate with the company to boost the mining sector in Sierra Leone. These improvements will lead to increased opportunities for locals to access better facilities and services, as well as the possible expansion of tourism. All of this will result in a positive multiplier and feedback effect, which will lead to further strengthening of our economy.”
The government rep thanked LRMG for its immense support towards complementing the Government’s vision and growth pace as it correlates with how mining communities and sectors can significantly benefit from the company’s operations.
The rep also commended LRMG for signing an MOU with CTC which indicates the company’s support to third users of the Rail and Port, as the rep informed the audience of the Government’s vision to work with LRMG to establish a hub for mineral exports in the