Star Cement has received approval from the Liberian government to construct a 0.6Mta plant in Monrovia at an estimated investment of US$41m.
Following commissioning, the price of cement is expected to drop in the domestic market and assist a boom in the construction industry, according to a company press release. Operations are anticipated to begin within the next 12-18 months, at which time the company will begin the sale of shares.
Elsewhere, Star Cement is reportedly trying to ensure that the country benefits from the ECOWAS Trade Liberalisation Scheme (ETLS) by commencing the export of cement to earn US dollar and therefore, reduce the requirement for foreign currency.
