President Julius Maada Bio will officially launch the Koya Industrial Zone (SIZ - Koya) today - a joint venture between Sierra Leone and ARISE Integrated Industrial Platforms (ARISE IIP) at Mile 36, Koya Chiefdom, Port Loko district.
If comes days after parliament ratified the Framework agreement between the two for the implementation of a special economic zone in Sierra Leone.
Minister of Trade and Industry, Dr. Hinga Sandy said the agreements would enhance economic growth, and provide huge employment for the people of Sierra Leone.
Members of Parliament who spoke during the debate acknowledged the importance of the agreements, whilst the Acting Leaders of the House applauded the initiatives of the Government and express the hope that it would yield dividends for the growth and development of the country.
As part of their investment portfolio, ARISE has a Public, Private, Partnership with the Government of Gabon for the establishment of the Gabon Special Economic Zone, a multi-sectoral industrial park located 27 km from Libreville. On 1126 ha, it includes an industrial zone, a commercial zone and a residential zone.
This is the same model that ARISE says it will embark on in Sierra Leone, to open up the investment market with more opportunities for value addition for export and the domestic value chain.
On Tuesday, 17th January 2023 the government signed the Pepel Port and Pepel-Tonkolili Railway development, expansion and management lease agreement with ARISE integrated Industrial Platforms Ltd.
The Pepel Port and Pepel-Tonkolili Railway development, expansion and management lease agreement will give a 10% free Carry to the GoSL and provide access to rail and port facilities to other bulk mineral producers in the northern corridor of the country.
ARISE is estimating a total investment of 476 million dollars covering the refurbishment of the Pepel Tonkolili Railway work, Pepel Port, Railway connectivity to Marampa mines, the introduction of passenger rail services and the rail connection to Guinea.
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