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Bushrod Island – APM Terminals Liberia Limited has announced that within a seven-year period, commencing 2012 to date, it has invested some US$110.1 million in the Liberian economy.
The General Manager of APM Terminals Liberia Limited, Mr. George G. Adjei made the disclosure Wednesday, when he addressed a well-attended press conference at his Freeport of Monrovia offices at Bushrod Island.
In 2012, just a year after it jumpstarted implementation of its 25-year concession agreement signed with the Government of Liberia in August 2010, APM Terminals invested US$56.9 million, and spent an additional US$12.2 million the following year, while in 2014, the company invested US$5.4 million, according to Adjei.
He added that in 2015, APM Terminals also invested US$7.6 million, and that in 2016, 2017, up to present, the company which operates in a total of 58 countries globally, operating 74 port facilities including the Freeport of Monrovia, has a targeted investment of US$28 million, summing up its investment package to more than US$110 milion, just within eight years out of a 25-year timeframe which has a targeted investment ceiling of US$120 million.
Adjei says taking into consideration what has already been invested in the country just within a short period of time, one can be certain that before APM Terminals’ concession agreement expires, the company would have far exceeded its investment ceiling of US$120 million.
However, Adjei, who declined disclosing his company’s revenue accrued so far, says APM Terminals would not have any regrets should it exceed its estimated investment ceiling of US$120 million, saying, investments made by his company were needed to be made to make Liberia’s largest seaport, the Freeport of Monrovia more efficient.
“The Freeport of Monrovia could not achieve its objectives in the condition we met it,” said Adjei, who did a slide presentation during the press conference.
He explained that facilities at the Freeport of Monrovia prior to APM Terminals commencing operations, were in deplorable state, something if not addressed at the time, would have hampered the achievement of the objectives of the company.
Adjei flanked by four out of a total of his eight-member senior management team, which strikes a balance of 50% Liberians and 50% expatriates, disclosed, “We invested in the key areas of the port,” adding that the refurbishing of the portyard, the construction of new administrative building and the erection of two separate state of the art three-lane in-gates and out-gates were among major works carried out by the company at the Freeport of Monrovia.
Dues payment
He disclosed that APM Terminals, in spite of its direct investment into the country’s economy, makes substantial contribution to the Government of Liberia, saying, “as good guests as citizens of Liberia, we pay our dues to government.”
As part of its due payment, Adjei says APM Terminals pays US$8 million in royalty to the National Port Authority (NPA), and also pays to the NPA over US$1 million as lease charge for the use of the land space the company operates on, as well as its corporate income tax of US$2.5 million, amounting to the sum-total of US$11.5 million per annum.
Giving back
“We take an active role to give back to our neighbors and create a brighter future Adjei said, adding, “we are focused on our container operations and our terminal operations right here (Freeport of Monrovia), but at every point in time, we also are very, mindful of what is going on beyond our gates – we are very concerned about our communities, and whenever we have an opportunity, we support our communities.”
He explained that this was exactly what took place during the Ebola outbreak in the country, stating that APM Terminals along with its partners rendered assistance during the EVD crisis, investing in an Ebola Treatment Unit, while the Freeport of Monrovia remained opened throughout the period of the outbreak.
The APM Terminals in line with its Corporate Social Responsibility (CSR), has been giving back to communities, said Adjei, who recounted the annual “Go Green” campaign global environmental initiative across all terminals, the “Road Safety Campaign” for drivers and pedestrians in high traffic locations, and its educational support to schools within communities in the environs of the Freeport of Monrovia, as some of such CSR undertakings of the company.
One of such CSR projects APM Terminals can boast of is the company’s educational support given to over 400 students at various stages of the educational system, including primary, through secondary, and up to university level,” Adjei said.
The educational assistance rendered the students was in the form of payment of tuition, according to Adjei, who said this was done right at the close of the Ebola crisis in the country, describing this period as a time when things were rough.
