China National Building Material Company has won a LD116.5m ($98.8m) contract to build a cement factory in Libya for the Cement African Company.
The factory will be built over two years in the Wadi al-Shatii area, in the west of the country. It will have a capacity of 1 million tonnes a year of clinker.
The state-owned Economic & Social Development Fund will hold a 40 per cent stake in the project.
Libya is pushing ahead with plans to develop its industrial sector. In February, the UK's Klesch & Company signed an agreement with Tripoli to develop the country’s first aluminium smelter.
In November 2007, the International Monetary Fund projected that Libya’s economy would grow by 8.8 per cent in 2008, up from a projected 6.8 per cent growth in 2007.
You might also like...
TotalEnergies to acquire remaining 50% SapuraOMV stake
26 April 2024
Hyundai E&C breaks ground on Jafurah gas project
26 April 2024
Abu Dhabi signs air taxi deals
26 April 2024
Spanish developer to invest in Saudi housing
26 April 2024
A MEED Subscription...
Subscribe or upgrade your current MEED.com package to support your strategic planning with the MENA region’s best source of business information. Proceed to our online shop below to find out more about the features in each package.