By Amin Kef Sesay
It was disclosed in a Press Release dated 11th May 2021 it was pointed out that the Management of Kingho Railway and Port Company Limited is extremely gratified to inform its staff, community stakeholders, Government and people of Sierra Leone that the country’s Parliament has debated and ratified its Railway and Port Lease Agreement.
On Friday 8th January 2021, the Management of the parent company, Kingho Investment Company Limited, joined officials of the mining and minerals sector of Sierra Leone to sign the Railway and Port Lease Agreement which ensures that the company’s subsidiary- Kingho Railway and Port Company Limited manage and operate the infrastructure of the railway and Pepel port for haulage and export of Kingho Mining Company’s iron ore out the country.
The agreement also makes provision for Kingho to haul the commodity of any other company along the rail corridor under a commercial agreement. Also worthy to note is that the 192 kilometer railway facility and the Pepel Port which stretches from the New Tonkolili Iron Ore mines in Tonkolili District are owned by the Government of Sierra Leone (GoSL).
Also spelt out in the Release is that in order to enhance effective transportation of the iron ore from the mining site in Tonkolili to be transported out of the country, Kingho has to lease the railway and port facilities from the GoSL.
It said against the backdrop of the Parliamentary approval process , the Board of Directors of Kingho Investment Company and all its subsidiaries express profound gratitude to the Government and people of Sierra Leone for the relentless trust bestowed on them. “The fulfillment of this agreement proves that Kingho is here to do business and in the right way.
The company is trying to build a solid foundation of our success in compliance to all Government and local regulations and laws and in a transparent manner for the benefit of not just the company, but also the people of Sierra Leone,” Gilbert Zhao, CEO of Kingho Investment Company Limited stated.
