Latest news with #LibyaAfricaInvestmentPortfolio
Libyan Express
3 hours ago
- Business
- 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.
Libyan Express
03-07-2025
- Business
- Libyan Express
Cement supply is the backbone of Libya's reconstruction
Cement supply is the backbone of Libya's reconstruction Libya's cement industry stands at a critical crossroads. As demand rises—driven by reconstruction efforts, housing expansion, and infrastructure projects—the country's reliance on imports and the chronic underperformance of local factories present both a national challenge and a strategic opportunity. Despite having vast reserves of raw materials—enough to sustain production for at least the next 50 years—Libya's cement output remains far below its potential. Current data reveals that the nation's cement plants are operating at just 58% of their design capacity. Of ten available production lines, only four are active, despite a total design capacity of 10 million tonnes annually. The result: a growing dependence on imports from Egypt, Turkey, and Tunisia. In 2020, for example, Libya imported 2.2 million tonnes of cement to meet domestic demand. Local factories produced only 3.1 million tonnes, falling short of the estimated market demand of 5.3 million tonnes. By 2024, demand had surged to approximately 7 million tonnes—yet supply continued to lag significantly behind. A clear illustration of this gap is the Al-Burj plant in Zliten, one of Libya's largest cement factories. It currently produces around 1.5 million tonnes annually—less than half of what the country needs. This supply shortfall has pushed prices sharply upwards. By mid-2024, the cost of a quintal rose to approximately 90 Libyan dinars (900 dinars per tonne), representing a 54% increase compared to the previous year. Yet the issue goes beyond underproduction. A combination of factors—security instability, speculative pricing, and restrictions on the movement of heavy trucks along major roads under the pretext of protecting infrastructure—has disrupted both local distribution and land-based imports. These logistical challenges have further inflated prices, with transport costs alone pushing cement prices from 17.5 to 25 dinars in just a few months. This widening gap between supply and demand is unsustainable. Continued reliance on imports not only places strain on Libya's foreign currency reserves but also leaves the domestic market exposed to unpredictable price fluctuations. Without strategic intervention, any meaningful progress in infrastructure and housing development will remain out of reach. There are, however, signs of positive movement. The Libya Africa Investment Portfolio (LAIP) has recognised the urgency of the crisis and prioritised the cement sector within its local investment strategy. As part of broader efforts to support national economic development, LAIP is investing in projects aimed at closing the supply-demand gap and restoring market stability. At the forefront of these efforts is the revival of the Misrata Cement Plant—a major strategic project that has remained dormant since 2012. Now, with comprehensive technical and strategic planning in place, LAIP is working to restart operations. The plant is expected to produce 2 million tonnes annually in its first phase, increasing to 4 million tonnes in the second phase. The project is being implemented in partnership with Sinoma–Wuhan, a leading Chinese construction firm. Experts believe the Misrata project could serve as a catalyst for wider sector reform, with the potential to reduce housing inflation, support major construction and infrastructure initiatives, and generate employment opportunities for young Libyans. Ultimately, the goal is to increase national cement output to 10 million tonnes annually. According to research by technical committees and specialised centres, this would reduce production costs, lessen reliance on imports, and help stabilise prices across the domestic market. For LAIP, the project has broader strategic objectives: contributing to economic diversification, strengthening Libya's industrial base, and enhancing the country's long-term resilience. Libya's cement crisis is not merely a supply chain issue—it is a test of economic sovereignty. Reviving this vital sector will require more than financial investment. It demands coordinated policy, regulatory reform, and a secure environment for industrial growth. But the potential rewards—economic resilience, infrastructure development, and national self-sufficiency—are too important to ignore.
Libyan Express
22-05-2025
- Business
- Libyan Express
Libya and Niger discuss transit corridor cooperation
Libya and Niger advance strategic transit corridor partnership Representatives from Libya and Niger met in Tripoli on Tuesday, 20 May 2025, to discuss the ambitious 'Libya Africa Transit Corridors' project aimed at transforming regional connectivity across North and West Africa. The high-level meeting brought together Libya's Joint High Committee for the 'Libya Africa Transit Corridors' Project, including officials from the Libya Africa Investment Portfolio (LAIP) and the Ministry of Transport, alongside Niger's Chargé d'Affaires to Libya. Libya's Undersecretary of the Ministry of Transport for Land Transport Affairs led the discussions, joined by senior officials including the Director of Strategic Planning at the Libya Africa Investment Portfolio and the Director General of the Land Transport Authority. The Libyan Ministry of Foreign Affairs and International Cooperation also participated, highlighting the project's diplomatic significance. The Libyan delegation presented comprehensive details of the transit corridor initiative, emphasising its potential to drive economic and social transformation across the region. The project is designed to boost trans-Saharan commerce and strengthen continental trade links extending far beyond the two participating nations. Niger's diplomatic representative praised the initiative and expressed appreciation for Libya's decision to route one of the strategic corridors through Niger. This positive reception demonstrates both countries' commitment to deepening their partnership. The meeting concluded with an agreement to draft a memorandum of understanding that will establish the foundation for bilateral cooperation on the project. The 'Libya Africa Transit Corridors' initiative represents a major infrastructure undertaking designed to connect Libya with its African neighbours to the south. The project encompasses two primary routes: one connecting Misurata through Tamanhint to Agadez in Niger, and another linking Benghazi via Kufra towards Sudan. This ambitious venture promises to enhance Libya's role as a gateway between Mediterranean markets and sub-Saharan Africa whilst supporting regional economic integration across the continent.
Libya Herald
22-05-2025
- Business
- Libya Herald
Committee for Libya Africa Transit Corridors Project convened with Niger Chargé d'affaires – agree to develop MoU
The Libya Africa Investment Portfolio (LAIP) reported yesterday that its Joint High Committee for the Libya Africa Transit Corridors convened last Tuesday (20 May) with the Chargé d'affaires of the Republic of Niger's Embassy to Libya to discuss project cooperation. Attendees comprised the committee head, who serves as Undersecretary of the Ministry of Transport for Land Transport Affairs, alongside the Director of Strategic Planning at the Libya Africa Investment Portfolio and the Director General of the Land Transport Authority. A representative from the International Cooperation Department at Libya's Ministry of Foreign Affairs also participated. The committee outlined the project's components and strategic objectives, emphasising its intended economic and social impact across Libya, Niger, and the broader African continent through improved trans-Saharan trade and regional connectivity. LAIP reported that Niger's Chargé d'affaires responded positively to the proposal, noting Libya's decision to route a strategic pathway through Niger. Both parties agreed to develop a Memorandum of Understanding as an initial framework for bilateral cooperation on the project. LAIP said the Libya Africa Transit Corridors Project forms part of Libya's strategy to strengthen regional connections with neighbouring African nations. Implementation plans feature two primary routes: Misrata-Tamanhint-Agadez (Niger) and Benghazi-Kufra-Sudan. . Libya-Niger and Libya-Sudan Transit Road Projects Committee meets – starts preparation for work plan and formation of subcommittees Chad signs agreement with Egypt to construct Chad section of the Egypt-Libya-Chad Transit Road Eastern Libya signs MoU to construct its section of the Egypt – Libya – Chad Transit Road Project Tripoli Transport Minister seeking to activate Transit Roads to Niger and Sudan Transport Minister discusses ''practical steps'' for transit road project with Niger At the opening of the ''Made in Libya'' event in Niamey, Niger, Aldabaiba looked forward to the new transit trade road ( Libya and Niger sign transit road implementation MoU Implementation timetable set for Libya to Niger, Libya to Sudan Transit Roads projects Libya and Tunisia to formulate clear vision for transit trade between Tunisia and Libya into African markets Tripoli Transport Minister seeking to activate Transit Roads to Niger and Sudan Libya discusses with Chad direct flights and the Transit Trade Road Libya-Niger Transit Trade Road report says US$ 3.2 bn project has numerous national and international benefits ( Benghazi's Jiliana Free Port continues transit trade to Chad Transit Trade: First transshipment operation from Jiliana Free Zone, Benghazi, to Europe Libya-Niger Transit Trade Road report says US$ 3.2 bn project has numerous national and international benefits At the opening of the ''Made in Libya'' event in Niamey, Niger, Aldabaiba looked forward to the new transit trade road ( Cabinet approves projects with foreign entities: Roads, transit trade, feasibility studies, radar systems, culture and training ( The Forum and Exhibition for Transport and Transit Trade in Africa (AFRO-TT) opened in Algiers ( Algeria and Libya's strategic ''gateway'' location and sub-Saharan Africa's huge potential heralds great potential for transit trade ( Algeria and Libya's strategic ''gateway'' location and sub-Saharan Africa's huge potential heralds great potential for transit trade ( Ministry of Economy and Trade discusses mechanism of activating transit trade, free zones and Africa Transport and Transit Trade Forum ( ''Made in Libya'', Niamey, Niger 6 to 11 March 2023: to aid exports, transit trade and economic diversification ( Preparations for the second ''Made in Libya'' edition in Niamey, Niger progressing ( Libya prepares for ''Made in Libya 2'' exhibition in Niamey, Niger – exports and transit trade to Africa discussed ( Most of the ''Made in Libya'' exhibition space already allocated: Libya Industrial Union ( Minister of Industry and Minerals discusses cooperation with Military Industrialization Authority and latest preparations for the Made in Libya exhibition ( Libyan Industrial Union to co-organize a ''Made in Libya'' fair in Tunis in September ( Over 150 Libyan companies to participate in ''Made in Libya'' exhibition to be held in Tunis (
Libya Herald
02-05-2025
- Business
- Libya Herald
Op-Ed: Libya's premium real estate, undervalued strategic assets in Central Africa – wasted potential needing leverage beyond oil through a new African partnership vision
After spending some time recently in the Central African Republic, I got to see firsthand what the Libyan African Investment Company (LAICO) has built over decades—from hotels to banks, to compounds that could have become regional hubs for cooperation. LAICO is a subsidiary of Libya's Africa focused sovereign fund, the Libya Africa Investment Portfolio (LAIP). It plays a significant role in Libya's economic presence across Africa. Instead, many of these assets are neglected or mismanaged by contractors with no real incentive to see these investments serve Libya or the host country. What is being wasted is not just property. It is potential. Potential for trade, diplomacy, education, and soft power that could connect Libya to Central Africa in a way no oil barrel ever could. Libya needs a new vision for its African investments Libya doesn't just need to protect its wealth abroad. It needs to activate it. With a new vision, these abandoned investments could support cross-border tech hubs, regional youth development programs, and strategic trade centers—bringing Libya back to the table as a serious partner in African development. We talk a lot in Libya about diversification. But it starts with seeing value in what we already have. It's time we asked: How can Libya transform and leverage its frozen and mismanaged assets into real African partnerships? . Mohamed Lateri is Head of Business Development at Makaman Libya Oil Services Inc | Founder @ eGlomo Ltd. Libya Herald is not responsible for the contents of this op-ed. Op-Ed: Libya's Missing Link – Why Data is the Key to Reform While Preventing a Public Backlash
