The Libya Africa Investment Portfolio (LAIP) announced yesterday that its delegation to Mozambique had concluded its official visit with an agreement with the local authorities to restart its stalled rice cultivation project.
Allocation of an alternative area of land to LAIP
LAIP confirmed that it had reached an agreement with Mozambique’s Agency for the Promotion of Investment and Exports (APIEX) on the allocation of an alternative area of land, which LAIP said constituted a pivotal and decisive step towards the resumption of the rice cultivation project. The new land location enjoyed fertile soil and an abundance of water resources necessary for agriculture, LAIP added.
80 percent of the project’s equipment is operational
As part of the technical preparations for the resumption of the project, a team of specialized engineers from a company specialized in rice cultivation and processing carried out a comprehensive inspection of the plant’s equipment. The results of the inspection showed that the validity of the current equipment is estimated at 80%, with a recommendation to carry out some maintenance and partial replacement operations to ensure that the full operational capacity of the plant is restored according to the highest standards of efficiency.
Strategic importance of the project for Mozambique
LAIP said the Mozambican Foreign Ministry stressed the strategic importance of the project and expressed the Ministry’s full support and commitment to providing the required facilities to ensure its success.
