House Passes FOUANI Brothers Oil Palm Refinery Investment Bill

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Oil

The House of Representatives on Thursday unanimously voted and passed into law a proposed plan by the Founi Brothers Incorporated for the construction and establishment of oil palm refinery in Liberia.

The communication which sought plenary endorsement came from the office of President George Weah requested by the foreign investment group.

The investment will allow Liberia to be productive in producing oil palm refineries to include butter, mayonnaise among other oil refining materials.

This comes after years of numerous concerns over Liberia’s inability to produce some common food and non-food items.

The passed planned investment, according to law remains subject to concurrence at the Senate. Though the House passed the bill sent by President Weah, other lawmakers made some amendments to a motion filed to accept the communication.

One of the amendments calls for the auditing of subsidies provided by the government to the institution to carry out its investment.

It is expected that with the hopeful concurrence from the senate, the Founi Brothers Corporation will produce oil refineries in contributing to much needed economic growth in the country.

The bill when passed by both houses will mitigate the many exportations of some refineries materials in the country.

According to the communication from the foreign investment through the office of the president, the proposed investment is also expected to alleviate Liberia from the selling of expired refineries materials.