Vedanta Sesa Goa announced on Friday that its subsidiary, Western Cluster Ltd (WCL), plans to invest USD 2 billion in the socio-economic development of Liberia, West Africa.
WCL is a wholly-owned subsidiary of Bloom Fountain Ltd, which in turn is a wholly-owned subsidiary of Vedanta Ltd.
“Western Cluster Ltd, a significant entity in Liberia’s mining sector, is poised to contribute significantly to Liberia’s growth, as envisioned by the new government. The company plans to invest USD 2 billion to drive socio-economic development in the region,” Vedanta Sesa Goa stated.
WCL’s ongoing initiatives focus on infrastructure development, community engagement, and creating employment opportunities for local communities.
Since its establishment in 2011, WCL has invested over USD 300 million in the socio-economic development of the region, including substantial contributions to community development funds and essential infrastructure projects.
“We aim to be a catalyst in unlocking Liberia’s economic potential and empowering local communities through the expansion of our operations, thereby generating numerous employment opportunities,” said Navin Jaju, Chief Executive Officer of Vedanta Sesa Goa.
WCL leverages over seven decades of iron ore mining expertise and resources to contribute to Liberia’s development.