An official from the Federation of Egyptian Industries announced on Saturday the launching of an investment alliance comprising 41 Egyptian companies to participate in reconstruction efforts in Libya.
The Chairman of the Chamber of Engineering Industries at the Federation of Egyptian Industries, Mohamed Al-Mohandes, said that the Arab Industrial Investment Alliance, which was recently established to support the reconstruction of Arab countries, will begin its activities in Libya and Iraq, according to Asharq Al-Awsat news agency.
Al-Mohandes added that representatives of the companies held a meeting with members of the Federation of Egyptian Industries to discuss the formation of this alliance, which aims to provide support and capabilities in the industrial and technological sectors for reconstruction purposes.
He highlighted “the Egyptian government’s commitment to participating in reconstruction efforts and overcoming all obstacles facing them,” noting that the alliance will provide support to the key industrial sectors needed for reconstruction. He also mentioned that the alliance is starting its operations in Libya and Iraq because both countries offer promising opportunities.
In mid-January, Mohammed Al-Bahi, Chairman of the Arab Cooperation Committee at the Federation of Egyptian Industries, said that several companies had agreed to establish an Egyptian joint-stock company to invest in Libya and participate in reconstruction projects.
