2024-07-24 22:20:59
The Board of Directors of the Libya Africa Investment Portfolio held a meeting on Monday at the Portfolio’s headquarters in the capital, Tripoli, during which a number of decisions were taken.
The portfolio reported via its account on the X platform (formerly Twitter) that during the meeting, the settlement minutes signed between the portfolio and the Internal Investment Fund were approved, according to which it was agreed to restore the portfolio to three projects that were among the projects that the General People’s Committee (formerly) transferred their affiliation from the portfolio to the fund in 2010, and which have remained suspended since that date. These projects include (Misurata Cement Factory, Mellitah Oil Services Port, and Zuwara Refinery).
During the meeting, the Board of Directors approved the agreement signed between the Libyan Joint Oil Company and the Turkish Royal Company to establish the Libyan-Turkish Petrochemical Industries Company, which will establish a bitumen factory.
The Board of Directors of the Portfolio approved the memorandum presented by the Chairman of the Board of Directors of the Libyan Joint Oil Company regarding the appointment of a General Manager for the company, in addition to renaming the Board of Directors of the Libyan African Investment Company (LAICO).
The Board of Directors meeting also reviewed the report of the committee to purchase an administrative building as the headquarters of the portfolio, presented by the committee chairman. It was recommended that the committee continue to complete the study of the offers and compare the presented alternatives, and submit a final report on the offer at the next meeting of the Board of Directors of the portfolio.
It was agreed to set a schedule for the dates of the general assemblies of the companies affiliated with the portfolio.
The Board of Directors of the Libya Africa Investment Portfolio is currently headed by Mustafa Abu Fanas, the former Minister of Economy, who was appointed by the Prime Minister of the Government of National Unity, Abdul Hamid Dabaiba, to carry out decisive reforms in the Libya Africa Portfolio to achieve progress towards the goals of economic and investment sustainability and contribute to deepening Libya’s impact and role in the African scene.
Libya Africa Investment Portfolio was established in 2006. The portfolio works in the field of international investment, searching for investment opportunities and building a diversified and balanced portfolio that includes companies operating in various industries and regions, in addition to achieving long-term and sustainable returns.
Last update: July 23, 2024 – 22:56
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2024-07-24 22:20:59