HIGH Power Exploration Inc (HPX), a US firm founded by mining billionaire Robert Friedland, revealed on Monday its intention to collaborate with Liberia’s government and Guma Africa Group to develop infrastructure projects aimed at connecting Liberia with Guinea.
The initiative, known as the Liberty Corridor, is set to include rail and road developments, with HPX estimating project costs to range between $3bn to $5bn, as outlined in a statement by the company.
Guma Africa Group, spearheaded by South African businessman Robert Gumede, will play a crucial role in the partnership.
The Liberty Corridor project is expected to introduce a new heavy-duty railroad linking Guinea’s Nimba district to a newly constructed deep-water port in Liberia. However, specific timelines for the projects were not provided in the statement.
According to HPX, negotiations with Liberia’s government are underway to finalise a framework granting exclusive rights for the development, financing, and operating of the Liberty Corridor.
The comprehensive infrastructure initiative also entails the upgrade of existing roads, the expansion of renewable power systems from Liberia to Guinea, and the enhancement of high-speed telecommunications infrastructure.
Infrastructure development is one of the keystones of President Joseph Boakai’s economic programme. In his first Annual Message (State of the Nation address) to parliament on January 29, the president highlighted road infrastructure development, acknowledging the inadequacy of the current network
HPX envisions that the Liberia-Guinea infrastructure link has the potential to catalyse transformation in the mineral-rich Nimba region, as well as stimulate growth along the railway and road corridor within Liberia.
The collaboration between HPX, Guma Africa Group, and Liberia’s government underscores a significant step towards enhancing connectivity and fostering economic development across the West African region.
The announcement of High Power Exploration Inc’s partnership with Liberia and Guma Africa Group signals a significant milestone in infrastructure development, with the ambitious Liberty Corridor project poised to bolster connectivity and drive economic growth in the region.