Libya says to build refinery in Egypt, up investment

Libya Pm said "it was agreed that an oil refinery will be built west of Alexandria with Libyan funding and it will be used for Libyan crude."

Libya says to build refinery in Egypt, up investment
Libya is planning an oil refinery and a natural gas pipeline in Egypt, helping boost investment in its Arab neighbour to $10 billion in the next two years, its prime minister said on Thursday.

"We have now about $2 billion (of investments) and we expect that within a period of two years maximum this will reach $10 billion," al-Baghdadi Ali Al-Mahmoudi told a news conference in Cairo.

"It was agreed that an oil refinery will be built west of Alexandria with Libyan funding and it will be used for Libyan crude."

Reuters
Last Mod: 03 Temmuz 2008, 16:28
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