ARISE Integrated Industrial Platforms (ARISE IIP) through Hema Construction Company, have taken significant steps to enhance local involvement and generate employment opportunities in the Koya community and its surroundings. This robust commitment underscores the entities dedication to fostering economic growth in Sierra Leone.
Hema Construction Company, hired by ARISE IIP, proudly announces the recruitment of additional community workers, pivotal to advancing the construction of the Sierra Leone Industrial Zone. This initiative aligns with their mission to empower the local community and fortify the nation’s economic development.
The ARISE IIP’s initiative is focused on creating a flourishing economic hub that will draw both domestic and international investments. The construction of the Sierra Leone Industrial Zone is a crucial component of that vision.
Investing an impressive $120 million in the first phase for the development of a Special Industrial Zone known as the Koya Phase 1 (SIZ-Koya Phase 1) Project, ARISE IIP aims at the establishment of 16 production units which will be dedicated to the setting up of import substitution industries that are projected to attract approximately $165 million in private investments and create 2,500 direct job opportunities.
It is worth noting that the Special Industrial Zone in Koya will be meticulously designed to accommodate a wide range of industries, including agro-industry, timber processing, pharmaceuticals plants, manufacturing entities of consumer goods, electric vehicle production, and cement and tile manufacturing.
The other Phase, to be known as SIZ-Koya Phase 2, is envisaged to expand over 350 hectares of land that will encompass 37 production units and create an additional 6,500 jobs as well as attract $140 million in foreign direct investment.
It includes the refurbishment of the Pepel Port and the Pepel Tonkolili, as well as Railway connectivity to Marampa mines and introduction of passenger rail services and rail connection to Guinea. It is estimated that an investment of US$476 million will be required, including preparation of the business plan, financial model and pre-feasibility studies.
Under the terms of the lease agreement signed between the Government of Sierra Leone and ARISE IIP, the Government has a 10% free carry (i.e. a 10% dividend), and other bulk mineral producers in the northern corridor will be also provided access to rail and port facilities.
The project will also improve mobility and trade access through a passenger rail service. Other benefits of the project include job creation and passenger movement from Tonkolili through Bombali to the Port Loko district, an increase in mineral export by an additional 20 million metric tons, payment of surface rent income to landowners, annual royalties, as well as pay-as-you-earn (PAYE) and other taxes generating additional revenue for the Government.
ARISE IIP has procured and shipped seven passenger railcars from Japan, slated to arrive at the Freetown Port on October 26, 2023.
Founder and CEO of ARISE IIP, Gagan Gupta, during the groundbreaking ceremony for the development of the Special Industrial Zone emphasized the positive impact of that the partnership with Sierra Leone will bring forth and highlighted how their integrated investment will ultimately foster job creation and usher in sustainable industrialization.
The reintroduction of passenger train services, which is part of a broader strategy to revamp the mining sector, will offer mining companies improved access to rail and port facilities as well as stimulate and expand economic activities.
It is obvious that the partnership between ARISE IIP and Government holds the potential to usher in unprecedented economic growth and employment opportunities.
With just under five years left in his final term, President Bio is determined to leave a lasting legacy through the reintroduction of passenger railway services. The resurgence of this mode of transportation promises to revolutionize the country’s transportation ecosystem, both now and in the future. Indisputably, it can be stated ,with all amount of certainty, that President Julius Maada Bio’s visionary leadership is solidly reshaping the country’s landscape with transformative projects such as ARISE Integrated Industrial Platforms’ establishment of an Economic Zone and the revival of passenger train services.
Amidst uncertainty, when the President assumed office in 2018, he has so far demonstrated unwavering commitment to creating opportunities for all citizens, particularly focusing on empowering the youth and women, improving education as well as enhancing agriculture.
It will go down the annals of history that the President’s first five years in administration really witnessed groundbreaking initiatives or programmes such as the Free Quality Education, free school feeding, and the construction of a state-of-the-art international airport in Lungi. Furthermore, the Government invested heavily in infrastructural development, rural electrification and other key projects.
These initiatives, which were started in May 2023, mark a pivotal moment in Sierra Leone’s industrialization journey, offering prospects for substantial economic growth and job opportunities.
