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Al Ghurair undecided over $2bn investment in Libyan refinery
- United Arab Emirates: 6 hours, 22 minutes ago
UAE-based Al Ghurair has said there were no plans yet to sell its half ownership of Libya's biggest refinery, Ras Lanuf, but also had not decided whether to go ahead with investing another $2bn, Reuters has reported. Before Libya's civil war, the company had planned to invest an additional $2bn to upgrade Ras Lanuf, which accounts for almost two-thirds of Libya's oil refining capacity. "If you don't give the wound enough time to heal, it will open again. Still today, the situation is fragile," said vice chairman Essa Al Ghurair. Ras Lanuf, which ceased operations during last year's war, restarted at the end of last August after several delays.
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