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Parliament ratifies Kingho's Rail and Port Development Lease Agreement amidst brewing discord

The House of Parliament has today ratified the lease agreement for the development and operation of the railway and port for a twenty years period.

The agreement between the government and Leone Rock Metal Group, a subsidiary of Kingho, is said to align with the government's vision of creating employment and enhancing the country's economic prospects.

Political leaders in the house stated the benefits of the agreement to include increase in cargo volume, enhanced cargo handling capabilities, and improved international trade aiding economic sustainability.

Minister of Transport, Fanday Turay, remarked that the company's track record in managing and integrating railways and ports globally. has the potential for the modernization, expansion, and improved maintenance of the rail and port infrastructure, to efficiently enhance the transportation of mineral commodities and other agricultural products.

The agreement also allows for a long-term partnership that extends beyond the initial 20-year period the the use of the rail and port services by third-parties.

Hon. Abdul Kargbo, Parliamentary Opposition Leader defended the action of parliament in approving the lease, given that there has never been anoother agreement before the house but registers scepticism on Mines Ministry regarding restoration of investors confidence.

He emphasized that he will be moving a motion for the investigation of the contract between GoSL and Arise and noted that the agreement is not bad but strangulates third parties operations.

There have been brewing discord between government bodies and Arise company over breach of agreement, in favor of the newly ratified agreement with Kingho, sparking debate on potentially eroding on investor confidence.

Whilst this agreement has been ratified, making it legal and binding, questions still abound regarding what transpired beforehand and possibly impact on future investments.


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