More than 25 Egyptian companies plan to form a joint-stock company by the end of January 2025 to invest in Libya and participate in reconstruction projects. The announcement was made by Mohamed El-Bahi, Head of the Arab Cooperation Committee at the Federation of Egyptian Industries.
The new company will focus on industries such as household appliances, engineering, construction, pharmaceuticals, industrial development, castings, electricity, steel, textiles, and cosmetics. Its activities will span three sectors: industry, trade, and services.
The company is negotiating with the Libyan government to allocate 1.2 million square metres of land in Misrata and Benghazi for two industrial zones, each covering 600,000 square metres.
This initiative follows a meeting with Libyan Minister of Economy Mohamed Al-Hwaij, who pledged support for Egyptian companies. The agreement includes facilitating land allocation for industrial zones and streamlining investment procedures.
Prominent Egyptian companies such as El-Araby Group, Qandeel Steel, El-Sewedy Engineering, and Misr Foundries are expected to participate. Mustafa El-Ashry, Chairman of El-Ashry Trading and Industry, stated that these industrial zones would include hotels, residential areas, service complexes, and restaurants.
In late 2024, the Arab Cooperation Committee organised a trade mission to Libya involving over 40 Egyptian firms, leading to agreements on industrial zones and exhibitions in Tripoli to promote Egyptian products.
