Misurata cement plant moves closer to launch
The Libya Africa Investment Portfolio (LAIP) is continuing preparations for the launch of the Misurata Cement Plant, as part of its broader strategy to implement industrial projects that support Libya's economic development.
The technical committee overseeing the project, appointed by LAIP, held its tenth meeting of the year on Tuesday at the portfolio's headquarters in Tripoli. The meeting focused on reviewing key technical and logistical requirements to ensure the project proceeds according to schedule.
Discussions included coordination with the National Oil Corporation to secure the supply of natural gas and heavy fuel oil required for the plant's operations.
The committee also examined ongoing communication with the General Electricity Company of Libya to explore options for providing the necessary electrical power to the site.
The committee further addressed infrastructure planning, particularly engagement with the Ministry of Transport regarding the construction of a 10-kilometre paved road linking the project site to the national road network — a critical step for accessibility and logistics.
In addition, an agreement was reached with the Industrial Research Centre to carry out a geological survey aimed at updating previous studies and assessing the long-term availability of raw materials at the site. The results will support the plant's sustainability, with operations projected to span up to 50 years.
Subcommittees also presented technical reports evaluating the current status of engineering works, carried out in collaboration with several local consulting firms.
The committee reviewed the existing contract with the Chinese company Sinoma – Wuhan, and initiated negotiations to revise specific provisions as part of a renewed contractual arrangement.
These activities form part of LAIP's ongoing efforts to complete pre-operational preparations and ensure that installation works commence within the designated timeframe, in accordance with approved technical and engineering standards.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Libyan Express
7 hours ago
- Libyan Express
Ola Energy accelerates growth with sharp rise in annual profit
Ola Energy's 2024 results reflect strategic gains and market resilience Ola Energy, the downstream petroleum subsidiary of the Libya Africa Investment Portfolio (LAIP), reported strong financial results for 2024, with net profit rising to €34.5 million—extending its multi-year earnings growth as the company deepens its presence across the African energy market. The results, announced at the company's annual shareholders' meeting on Sunday, reflect continued momentum following a net income of €29.8 million in 2023 and €11.2 million in 2022. The steady climb underscores the impact of LAIP's strategic focus on performance optimisation and portfolio consolidation. Executives attributed the company's gains to operational improvements and targeted investments, particularly in infrastructure and service delivery. Ola Energy's network spans 17 African countries, comprising more than 1,500 retail fuel outlets and jet fuel operations in 55 airports. The company also operates seven manufacturing plants producing heavy-duty lubricants, a move seen as key to diversifying revenue and strengthening supply resilience. At the annual shareholders' meeting, participants approved the audited financial statements for the fiscal year ended 31 December 2024 and reviewed the company's operational report. Board members commended the leadership team for delivering on strategic objectives, citing 2024 as a year of disciplined execution and steady growth. Looking ahead, the meeting highlighted the importance of maintaining financial discipline and operational agility amid shifting market conditions, with an eye toward unlocking further growth opportunities in Africa's evolving energy landscape. Ola Energy is wholly owned by LAIP, a Libyan sovereign wealth vehicle responsible for managing and expanding the country's strategic investments across the continent. The views expressed in Op-Ed pieces are those of the author and do not purport to reflect the opinions or views of Libyan Express. How to submit an Op-Ed: Libyan Express accepts opinion articles on a wide range of topics. Submissions may be sent to oped@ Please include 'Op-Ed' in the subject line.
Libyan Express
2 days ago
- Libyan Express
Misurata cement plant moves closer to launch
Libya's LAIP accelerates progress on Misurata cement plant The Libya Africa Investment Portfolio (LAIP) is continuing preparations for the launch of the Misurata Cement Plant, as part of its broader strategy to implement industrial projects that support Libya's economic development. The technical committee overseeing the project, appointed by LAIP, held its tenth meeting of the year on Tuesday at the portfolio's headquarters in Tripoli. The meeting focused on reviewing key technical and logistical requirements to ensure the project proceeds according to schedule. Discussions included coordination with the National Oil Corporation to secure the supply of natural gas and heavy fuel oil required for the plant's operations. The committee also examined ongoing communication with the General Electricity Company of Libya to explore options for providing the necessary electrical power to the site. The committee further addressed infrastructure planning, particularly engagement with the Ministry of Transport regarding the construction of a 10-kilometre paved road linking the project site to the national road network — a critical step for accessibility and logistics. In addition, an agreement was reached with the Industrial Research Centre to carry out a geological survey aimed at updating previous studies and assessing the long-term availability of raw materials at the site. The results will support the plant's sustainability, with operations projected to span up to 50 years. Subcommittees also presented technical reports evaluating the current status of engineering works, carried out in collaboration with several local consulting firms. The committee reviewed the existing contract with the Chinese company Sinoma – Wuhan, and initiated negotiations to revise specific provisions as part of a renewed contractual arrangement. These activities form part of LAIP's ongoing efforts to complete pre-operational preparations and ensure that installation works commence within the designated timeframe, in accordance with approved technical and engineering standards.
Tatler Asia
6 days ago
- Tatler Asia
The wave of lay-offs in the first half of 2025: The consumer goods industry – a ‘safe fortress' in the crisis is also starting to shake
The first half of 2025 has seen a fresh wave of lay-offs sweep across global markets, as companies recalibrate in the face of ongoing economic volatility. Data from Intellizence and CNN shows that more than 5,700 businesses executed mass lay-offs throughout 2024, and the momentum has carried into this year, with over 190 companies following suit. After two years marked by significant downsizing across technology, media, finance, manufacturing, retail, and energy, the tide has yet to turn. Even the consumer goods sector, long seen as a 'safe fortress' in times of turmoil, has not escaped unscathed, with major reductions announced by two of its most prominent names. Yet beyond the grim statistics, there may be signs of a deeper transformation taking shape in the framework of the global economy. Read now: 41 per cent of employers plan to cut roles that AI can replace by 2030 In just the first half of 2025, a host of multinational corporations across varied industries have unveiled wide-scale lay-offs. Meta, parent company of Facebook, Instagram and WhatsApp, has confirmed the dismissal of around 3,600 employees, viewed as underperformers, representing 5 per cent of its workforce. Starbucks followed suit, announcing plans to shed 1,100 roles while also cancelling hundreds of incoming positions, citing the need to streamline operations and refocus the brand's priorities. Amazon, too, continued trimming headcount, particularly in its communications and sustainability divisions, raising its total lay-offs to 27,000 over the past three years. This wave has not remained confined to tech and retail. It has extended to financial institutions and consumer goods conglomerates. DBS Bank, Southeast Asia's largest financial group, plans to reduce its workforce by 4,000 over the next three years across 19 markets. Strikingly, even stalwart consumer brands, typically resilient during economic storms, are no longer exempt. Procter & Gamble confirmed it will eliminate approximately 7,000 roles, predominantly in administrative and office-based functions. Shortly after, Unilever drew headlines when it revealed a plan to cut 7,500 positions globally: nearly 6 per cent of its total workforce. Read more: This Chinese unicorn company uses AI to help Unilever and L'Oréal with their content Behind these seemingly unconnected announcements lies a quieter, more deliberate trend. As the cost of raw materials continues to rise and AI and automation technologies gather pace, businesses are being pushed to refine their models. In doing so, human capital is increasingly under review.
