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Sierra Leone’s Parliament has debated and unanimously ratified the ARISE IIP’s ‘The Dry Port Concession Agreement by and Between Sierra Leone Ports and Harbours Authority and the Government of Sierra Leone’.
This is part of a groundbreaking Industrial Zone Agreement between the ARISE Integrated Industrial Platform (ARISE IIP) and the Government of Sierra Leone (GoSL) to develop and operate a Special Economic Zone (SEZ) in Koya, Mile 36.
Minister of Transport and Aviation, Hon. Fanday Turay said: “The Agreement is geared towards investing in the dry port and river port industrial zone of the Port Loko district with millions of United States dollars Investment and underscored that the agreements are divided into four phases. The dry port will do connectivity to the region and improve industrial growth, and help to lower prices and also create huge employment for Sierra Leoneans, especially the youth”.
The Agreement will significantly enhance the capacity of the Port of Freetown (Queen Elizabeth II Quay), allowing for more vessels to call at Freetown port, thereby boosting the port’s competitiveness relative to other countries.
Arise IIP is also currently working with the Government of Sierra Leone to construct a 400 to 500MT of Rice Mill in the country.
The above development will be an addition to ARISE IIP’s proposed $120 million United States dollars to develop SIZ – Koya (Sierra Leone Industrial Zones).
In 2023, the Sierra Leone Parliament ratified the establishment of the Koya Industrial Zone, a project that will catalyse the industrialization of Sierra Leone.
