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UAE firm to invest $1.5bn in Libya
- United Arab Emirates: Monday, January 23 - 2012 at 09:39
UAE-based Al Ghurair Group has announced plans to invest $1.5bn (Dhs5.5bn) to expand a refinery in Libya over the next four years, Gulf News has reported. "We have invested in the largest refinery in Libya, where we have a 50% ownership," Abdul Aziz Al Ghurair told the daily. "We have come to expand our business, and plan to put in $1.5bn over four years." The initial investment was made three years ago in the Ras Lanuf refinery, in partnership with the Libyan National Oil Co.
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StaffMonday, January 23 - 2012 at 09:39 UAE local time (GMT+4)
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