Liberian legislature ratifies pact with BFS

ERJ staff report (DS)

Monrovia, Liberia -- Both houses of the Liberian legislature have ratified the renegotiated concession agreement that will allow Bridgestone/Firestone to operate its 62 000 ha. natural rubber plantation in the country until 2041.

The agreement, which was renegotiated at the request of Liberian President Ellen Johnson-Sirleaf, calls on BFS among other things to pay a slightly higher tax rate, undertake new social and educational projects for the plantation's nearly 7 000 workers, and increase support to small Liberian rubber farmers.

Firestone Natural Rubber Co. Inc., the BFS subsidiary that operates the plantation, said it will build 2300 homes for plantation workers during the next four years. The tyre maker has operated the plantation at Harbel, 35 miles from Monrovia, since 1926.

From Rubber & Plastics News (A Crain publication)