The project will cover 6 square kilometres on the shore of Sabratha, a city 70km west of Tripoli and is intended to serve as a crossroads between the European, African and Arab markets.
The project involves the construction of a centrepiece project called Africa Tower, surrounded by specialised business clusters including an environmental and renewable energy advisory centre, an area dedicated to oil and gas producers, an area for shipping and trading companies, an area for energy service industries, and an area for downstream and infrastructure industries (MEED 09:01:08).
The Economic and Social Fund of Libya will have a consultative role on the project, as well as being an investor in the development.
Gulf Finance House Chairman Esam Janahi said: “Libya is undergoing an exciting commercial renaissance and the time is right to capitalize on this progress. It enjoys all the attributes necessary to host one of the world’s leading energy communities.”
You might also like...
Global AI market to top $1tn in 2030
25 April 2024
Morocco tenders Noor Midelt 2
25 April 2024
Saudi Arabia's Roshn launches Aldanah Dhahran project
25 April 2024
Kuwait retenders revegetation contracts
25 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.