Mar 09 2009 |
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USD375m UAE, Libyan oil refining JV set up
Tripoli, 9 March 2009 (WAM) - Libya's National Oil Corporation ( NOC )and the UAE-based Trusta today signed an agreement to set up a joint venture to develop the Ras Lanuf oil refinery in Libya.
The agreement was signed by Dr Shukri Ghanem, Chairman of the NOC and Isa Abdullah Al Ghurair, Deputy Chairman of Trusta.The new joint venture company, named Lirco, will be established at a paid up capital of USD 375 million. NOC and Trusa will own 50 percent each in the new company.
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