More than 34 Egyptian companies are currently establishing a company in Libya to establish an industrial city in Libya.
The news was revealed yesterday by Alaa Nasr El-Din, a member of the Board of Directors of the Chamber of Wood and Furniture Industry and a member of the Arab Cooperation Committee of the Federation of Egyptian Industries. He was speaking to, and quoted by, several Egyptian media sites. He did not specify in which city the industrial city would be established.
Nasr El-Din explained that that this came during the recent visit organized by the Arab Cooperation Committee of the Union to Libya, which witnessed the participation of more than 34 Egyptian companies. These companies are specialised in the fields of industry, trade, contracting, consulting and services. The companies will also establish offices in Libya for marketing and to facilitate government services, he added.
It will be recalled, however, that on 16 January, and as reported by Libya Herald, Egyptian media had reported the head of the Arab Cooperation Committee in the Federation of Egyptian Industries, Mohamed El-Bahi, confirmed that more than 25 Egyptian companies intend to establish a joint-stock company before the end of this January with the aim of investing in Libya and participating in reconstruction projects.
Establishment of two industrial zones with an area of 600 thousand square meters each
El-Bahi had also gone on to point out that the new company’s activity will focus on three main areas: industry, trade, and services. The company will also negotiate with the Libyan government to obtain 1.2 million square meters of land in the cities of Misrata and Benghazi, to establish two industrial zones with an area of 600 thousand square meters for each zone.
More than 25 Egyptian companies to invest in Libya and participate in reconstruction projects
