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Libyan Export Development Authority and Libyan Iron and Steel Company sign MoU for fishing trawler factory
via Libya Herald1 min read
The Libyan Export Development Authority LEDA and the Libyan Iron and Steel Company LISCO have signed a Memorandum of Understanding to establish a factory for fishing trawlers. This agreement aims to enhance Libya's national industrial capabilities, utilize available resources, and develop local products to support complementary industries and strengthen the national economy. The project will specialize in manufacturing fishing dredges and vessels, thereby supporting the marine resources sector, increasing the efficiency of the local fishing fleet, and creating new job opportunities. It also seeks to develop national capabilities in maritime industries, support investment in marine resources, produce local products to meet market needs, and open up export opportunities. Both parties emphasized the project's importance in supporting economic development, strengthening national institutional partnerships, and expanding local production to diversify income sources and bolster the national economy. The agreement was signed by Mohamed Abdelmalik Al-Fagih, Chairman of LISCO, and Mohamed Al-Hangari, Chairman of LEDA.
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This summary was AI-generated from a story originally published by Libya Herald.
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