Archive | Investment

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 […]

NOC discusses Cooperation and Investment with UAE

National Oil Corporation (NOC) chairman Mustafa Sanalla met with His Excellency Eng. Suhail Mohamed Faraj Al Mazrouei, United Arab Emirates Minister of Energy & Industry; and separately with His Excellency Dr Khaldoon Khalifa Al Mubarak, managing director and group chief executive officer of Mubadala Investment Company (MIC), the strategic investment arm of the UAE government, […]

Libyan British Business Council mission to Tunis

LBBC Mission to Tunis, 22-24 October 2018 The Libyan British Business Council members’ mission to Tunis later this month offers an opportunity to generate increased Trade and Investment between our two countries. Deputy Prime Minister Ahmed Maiteeg will speak to the opening session of the 23 October Conference, addressing LBBC member companies and our Libyan […]

LIA Leadership Battle “appears sub judice” in Libya – UN

By Padraig O’Hannelly. Those following the continuing battle for control of Libya’s sovereign wealth fund, the Libyan Investment Authority (LIA), may be interested to read the summary compiled by the UN’s Panel of Experts on Libya. In its final report, the Panel finds that the matter of legality of the formation and functioning of the […]