CHINESE STEEL COMPANY PLANS TO EXPAND INVESTMENT IN SIERRA LEONE

China's Shandong Iron and Steel Group plans to expand its investment in Sierra Leone with 700 million US dollars for the construction of processing plants.

Its chairman, Hou Jun, made the announcement during a courtesy call on Sierra Leone President Ernest Bai Koroma here Friday.

Hou assured the president that the company's goal in Sierra Leone is to work "closely with the government to scale up China-Sierra Leone economic co-operation".

The company has committed 700 million USD for the construction of processing plants so as to further expand its business in Sierra Leone, said Hou.

President Koroma encouraged the Shandong Iron and Steel Group to scale up its activities through the injection of investment into its operations and promised continuous support from his government.

"We will continue to support the project because we believe it's a win-win situation for both the company and Sierra Leone," the president told Hou.

Source: NAM NEWS NETWORK.

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