Archive | Investment

Libya joins European Bank for Reconstruction and Development (EBRD)

Libya has joined the European Bank for Reconstruction and Development (EBRD) as its latest shareholder with a view to becoming a country where the Bank engages with investments and support for policy reforms. The North African country became a shareholder in the EBRD today when membership formalities were successfully concluded. This follows the Bank’s Board […]

Chinese Firms explore Opportunities in Libyan Oil

A senior delegation from the National Oil Corporation (NOC) has visited China at the invitation of the China National Petroleum Corporation (CNPC) to discuss investment and enhanced cooperation opportunities in the Libyan oil and gas sector. The NOC delegation, headed by chairman Eng. Mustafa Sanalla, was welcomed by CNPC’s vice president and president of PetroChina, […]

Investment Resumes in Libya

As central Tripoli comes under greater threat of devastation, other parts of the country appear to be attracting investment. Misrata, once known internationally for suffering a protracted siege in 2011 by Colonel Mu’ammar Qadhafi’s regime, is once again a bustling commercial centre. While Benghazi which, in the eyes of the US since 2012 has become […]

LISCO planning $1bn Tender

By John Lee. The Libyan Iron and Steel Company (LISCO) is reportedly planning to announce a $1-billion tender next month to build two new plants. Chairman Mohamed al-Faqih also told Reuters that the company has started exporting to Algeria, and aims to increase production this year. For the new plants, al-Faqih said Lisco is targeting […]

Libya “wins Lawsuit against Foreign Investor”

By John Lee. Libya’s Ministry for Justice has reportedly won an appeal against a lawsuit filed by a foreign investor seeking $120 million in compensation. Xinhua quotes the justice ministry’s lawsuit department as saying: “The lawsuit department has won an appeal of the verdict issued by the international arbitration tribunal in Paris in December 2016 in […]

EUR200m Libyan Cement Company Investment

By John Lee. The Libyan Cement Company (LCC) held a major management meeting in Benghazi, with over 60 senior managers from across the LCC group were invited to hear about the latest progress and the Company’s plans for the future. According to a statement from the company: “LCC is back in business. Kilns are turning, […]

UK Envoy: Libya has “the Most Extraordinary Prospects”

By John Lee. The British Prime Minister’s Trade Envoy to Libya, Sir Henry Bellingham, visited Libya on Sunday to discuss trade cooperation between the two countries. On his first visit to Libya in his new role, Sir Henry said that Libya and the United Kingdom have an “excellent bilateral relationship“. He added: “This is a […]

Libya “needs $60bn” to overhaul Energy Infrastructure

By John Lee. Libya needs up to $60 billion in investment to revive its energy industry, according to a report from The National. It quotes National Oil Corporation (NOC) chairman Mustafa Sanalla as saying that $40 billion is required to raise refining capacity to a million barrels per day, with another $20 billion needed over […]