IPNEWS: Gbarpolu County Senator Amara Konneh has expressed support for President Joseph Boakai recent submission of three major investment agreements negotiated and signed by the Executive Branch to the Liberian Senate for immediate ratification.
These agreements mark significant progress in attracting strategic foreign investment and revitalizing key sectors of our economy.
Senator Konneh in social Media Post states that the first two submission includes eight new offshore petroleum sharing contracts (PSCs) with TotalEnergies EP Liberia B.V. and Atlas Oranto Petroleum Ltd., representing Liberia’s first petroleum agreements in over a decade under the 2024 Direct Negotiation Licensing Round. TotalEnergies secured blocks LB-06, LB-11, LB-17, and LB-29, while Atlas Oranto was awarded blocks LB-15, LB-16, LB-22, and LB-24.
Sen. Konneh revealed that the third agreement, a $1.8 billion deal with Ivanhoe Atlantic (formerly HPX), signed in July 2025, covers the rehabilitation and operation of the Yekepa to Buchanan railway for iron ore exports from Guinea. Ivanhoe Atlantic will use the railway until the ArcelorMittal Liberia concession expires in 2030. That rail belongs to Liberia, not Nimba, Bong, and Bassa. According to the President’s letter, Ivanhoe has already paid $37 million in advance to the previous administration (CDC). We scrutinize the proposed $1.8 billion investment package for the benefit of the Republic of Liberia.
“I strongly support both agreements, which align with President Boakai’s ARREST Agenda for Inclusive Development (AAID). These investments are vital to strengthening Liberia’s fiscal base, increasing Liberian participation, and creating meaningful employment opportunities, especially for our youth.
Although I am not part of the committees reviewing these agreements, I will actively support their efforts to ensure comprehensive legal, economic, fiscal, and policy evaluation. This includes examining the 5% equity stake given to Liberian-owned companies under the PSCs, protecting national interests, and analyzing broader economic and foreign policy impacts. Key focus areas should include market access, investor-state dispute resolution, investor protections, anti-corruption measures, and performance requirements that benefit Liberia. We must do everything to safeguard Liberia’s interests” Sen Konneh stated .
