The Tripoli based Libyan government reported yesterday that, in implementation of the Prime Minister’s instructions on strengthening investment partnerships with foreign investors, it held a meeting with several foreign investors.
A3M Group consortium, investors from Gulf countries and the United States
The meeting was held with the participation of the Head of the Executive Team for the PM’s Initiatives and Strategic Projects, Mustafa Al-Mana, the Acting Minister of Oil and Gas, Khalifa Abdel-Sadig, the Undersecretary of the Ministry of Economy, Suhail Boushiha, the Chairman of the Privatisation and Investment Board (PIB) and the Executive Director of the Special Economic Zone, with the participation of the A3M Group consortium and investors from Gulf countries and the United States of America.
Nigeria-Chad-Libya line project and the SEZ Port via BOT
The meeting was dedicated to discussing the detailed study of the oil and gas pipeline project, including the Nigeria-Chad-Libya line project to the port of the Special Economic Zone, as well as the project to establish an oil pipeline plant within the zone, as part of a strategic partnership with the Build-Operate-Transport (BOT) system.
Strengthening local and international supply chains, and localizing oil industries and services
The attendees reviewed the components of the project, the size of the expected investments, and its strategic importance in supporting the oil and gas sector, strengthening local and international supply chains, and localizing oil industries and related services within Libya.
Proposed partnership models, guarantees and commitments provided
The meeting also discussed the proposed partnership models, guarantees and commitments provided by investors, in order to ensure the implementation of the project in accordance with the best internationally approved technical and economic standards, and in line with national legislation and economic development goals.
Project’s importance in creating job opportunities and enhancing added value to economy
At the end of the meeting, the attendees stressed the importance of the project in creating job opportunities and enhancing the added value of the national economy, while stressing the continuation of coordination between the relevant authorities, and supporting the Special Economic Zone in completing the executive procedures and governance of the project.
