The Economy and Trade Ministry reported that the completion rate of the factory had reached 98 percent, which is managed by the Chinese Goodwill Ceramic Company, part of the Wankang Holding Group. The contract was for the use of a plot of land of 26 hectares to establish a ceramics and porcelain factory located within the expansion area of the Karareem Industrial Zone, in Misrata. Localising sustainable industrial developmentThe Industrial Zones Authority had said this step comes within the framework of localising new industrial projects and a step forward in the framework of sustainable industrial development in Libya. The company had announced the establishment of the “Al Sharq” company as its first investment activity on Libyan soil and chose MFZ as its headquarters. *A usufruct contract is a limited but real legal right accorded to a person or party that confers the temporary rightChina’s Goodwill to establish ceramics/porcelain factory in Misrata Industrial Zone (libyaherald.com)Industrial Zones Director visits Misrata site and China’s Goodwill Company project (libyaherald.com)China’s Wangkang establishes its first Libyan company in Misrata Free Zone (libyaherald.com)

Source: The North Africa Journal July 19, 2024 16:39 UTC