Weala, Margibi – The Liberian Investigator has confirmed from multiple sources that the Socfin Group, the parent company of the Salala Rubber Corporation (SRC) plantation in Margibi, has sold the plantation to Jeety Rubber LLC following weeks of violent protests that resulted in the vandalism of the company’s facilities.
Following the protest, which led to the burning of company property and death threats against the General and Plantation Managers, the Socfin Group made an immediate decision to shut down the company and lay off over 800 workers. About 300 of the laid-off workers, who were newly employed, received their end-of-service benefits in accordance with Liberian law.
Our sources disclosed that Firestone Liberia, along with a former shareholder of the Socfin Group, bid for the 4,400-hectare natural rubber plantation, but Jeety Rubber LLC won the bid.
In 2007, Agrifinal merged Weala’s factory with Salala’s plantation. The Socfin Group then acquired the Salala Rubber Corporation (SRC) and invested in expanding the plantation.
When contacted, the CEO of Jeety Rubber LLC, Upjit Singh Sachdeva, confirmed that it is “good news” but mentioned that he is working on the modalities with the government before making a full disclosure.
The Liberian Investigator has established that the Socfin Group is selling the SRC plantation without settling its social, environmental, cultural, financial, and economic debts to the affected communities.
SRC’s operations have faced serious criticism from Green Advocates and other international rights groups for reportedly causing significant harm to local communities, including land grabbing, environmental degradation, and human rights abuses.
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