The Liberia Petroleum Refining Company (LPRC) launched the expansion and modernisation of its Product Storage Terminal on Monday 26 October in a ground-breaking ceremony attended by President of Liberia Joseph Nyuma Boakai, LPRC managing director Amos Tweh and other officials and staff.
The project, costing $35 million (€31.4 million), will add 50,000 tonnes of petroleum storage capacity to the site. At the ground-breaking ceremony, a newly completed 12,800 tonne Petroleum Motor Spirit storage tank was revealed, as well as a petroleum product testing laboratory. The aim of the project is to strengthen Liberia’s domestic fuel supplies, ensuring protection against international price changes, shipping delays and supply disruptions.
Joseph Nyuma Boakai, president of Liberia, states: ‘Today, we are not only celebrating the completion of two important national investments. We are also breaking ground for an ambitious $35 million expansion (€31.4 million) and modernisation of LPRC’s product storage terminal… This is my third time, as you heard, to visit this facility as President of the Republic of Liberia. And each visit represents an important chapter in Liberia Petroleum Refining Company’s continuing transformation… While we cannot control international market conditions, we have a responsibility to strengthen our national infrastructure and improve our ability to respond to those challenges… Our objective is to strengthen Liberia’s energy security, improve national economic resilience, and create the conditions for greater investment, productivity and prosperity.’
