Kingho and Sierra Leone government sign railway and port lease agreement

Sierra Leone Telegraph: 09 January 2021:

Yesterday, the management of Kingho Investment Company Limited signed a lease agreement with officials of the mining and minerals sector of Sierra Leone for the use of railway and port facilities that will ensure the company’s subsidiary – Kingho Railway and Port Company Limited can utilize the infrastructure for transporting its iron ore out of the country.

The 192-kilometre railway facility which stretches from the new Iron Ore mines in Tonkolili District to the port town of Pepel in Port Loko District, is owned by the Government of Sierra Leone (GoSL).

The government of Sierra Leone through the Ministry of Mines and Mineral Resources and the National Minerals Agency (NMA) yesterday signed the lease agreement granting Kingho Railway and Port Company Limited the right to operate the railway and port facility.

Kingho Railway and Port Company Limited will also commercialise the use of the railway and port to other potential users along the railway and port corridor after completion of multi-million dollar restoration and expansion work.

Shortly after the signing of the lease which took place at the Ministry of Mines and Mineral Resources, Chief Executive officer (CEO) of Kingho Investment Company Limited, Gilbert Zhao expressed his sincere thanks and appreciation on behalf of the Board of Directors and Management of Kingho Sierra Leone to every single government official who has worked so hard for the successful signing ceremony.

“The fulfilment of this agreement proves that Kingho is here to do business and in the right way,” Gilbert Zhao stressed whilst adding that “the company is trying to build a solid foundation on our success on compliance to all government and local regulations and laws and in a transparent manner for the benefit of the company and the people of Sierra Leone.”

Kingho Railway and Port Company Limited will work strictly under the guidelines of the agreement and to fulfil all its obligations, Gilbert Zhao said.

Minister of Mines and Mineral Resources, Timothy Kabba said that the lease agreement is a way of showcasing government’s support to enabling a very good working atmosphere for investors.

It could be recalled that in September 2020, the Government of Sierra Leone through the Ministry of Mines and Mineral Resources, handed over the new Tonkolili Iron Ore Project to Kingho Mining Company Limited.

Both Kingho Mining Company Limited and Kingho Railway and Port Company Limited are subsidiaries of the parent body Kingho Investment Company Limited which itself is headed by CEO Gilbert Zhao.

3 Comments

  1. This goes to show the importance of maintaining a nonpartisan approach when it comes to development issues, especially in the area of infrastructural development. The railway line in question now was built and put into operation during the last regime by another investor. When the new regime took over power, majoring of the mining investors were treated in a scornful manner, leading to several closures and down tooling of mining companies, mostly in the northern part of the country. The infrastructure left behind by the previous investors chased away is now being utilize by others.

  2. An Ignoramus that went to school just for the hell of it once told a friend that his favorite hobby was to sign anything that came his way on a whim, no matter how important it may be, without worrying about reading the fine print and intricate details that are always hidden within all documents relating to matters of consequences.

    His desk was like a busy train station always full of activity, documents came and went like passengers in a hurry and he just kept on signing without reading a single line. One day a traveler from far away knocked on his office door;” I have come to take possession of the Gold mine you sold to me 5 years ago,” he said.”Sir, you have come to the wrong place,” the Ignoramus chuckled and replied;” I have never once sold anyone an acre of of a gold field, neither do I have one available for sale.”

    Then the traveler reached inside his pocket and pulled out a document the SLPP blockhead had signed many years ago agreeing to selling the foreigner a land full of acres and acres of diamonds for peanuts without even realizing it. Gentlemen – This government is the worst to have ever ruled Sierra Leone; If you ever thought that Sovereignty was a sacred thing that cannot be bought and sold like a
    cheap commodity in the market place, then think again. Sierra Leone is now open to business to every criminal with a duffle bag full of cash – the criminal SLPP cabal has dropped the bar so disgracefully low that scumbags that are frowned upon in other places have now made our beautiful country their home.

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