Establishment of Libya cement manufacturing company approved
The Board of Directors of the Libya Africa Investment Portfolio approved the establishment of a joint stock company specialized in the manufacturing and marketing of cement, as reported by Libya Eye on July 23rd.
According to the statement, the amendment of the organizational structure of the portfolio was a approved by the board with the aim of raising the efficiency of institutional performance and enhance the effectiveness of resource management, as well as approved amendments to the Articles of Association, in addition to the formation of specialized committees extending from the Board of Directors. Additionally covered in the statement was a package of regulatory and investment decisions, in addition to approving amendments to the organizational structure and articles of association of the portfolio.
With regard to the Misrata Cement Factory project, the council decided to reconstitute the committee responsible for the project, following the review of a study prepared by the Executive Management based on a prior mandate, before approving the establishment of a joint stock company specialized in the manufacturing and marketing of cement. The council additionally discussed multiple projects related to the development of the real estate assets of the portfolio, such as a proposal to establish an integrated tourism project on the land owned by it in the Ghout Al-Rumman area in the municipality of Tajoura, alongside the project to establish a new headquarters for the portfolio.
The Board of Directors also reviewed a number of subsidiaries’ files and took the necessary decisions in this regard, as part of the continued follow-up of their business and operational plans. The portfolio stressed that the decisions made are part of its efforts to continue developing its regulatory system, while enhancing its investments, in line with the strategic objectives and contributing to raising the efficiency of its asset management and project developments.
Libya Eye, Maghrebi.org.
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