06.04.2008
Libyaninvestment.com

Dr. Albagdadi Almahmoudi Secretary of the General People's Committee received at his office HH Sheikh Mansour bin Zayed Al Nahyan, the UAE's Minister of Presidential Affairs the UAE’s Minister of Presidential Affairs and his accompanying delegation.

The Libyan Social & Economic Development Fund (SEDF) and the Abu Dhabi-based Al Mibar International for Investments today signed an agreement for a US$500 million joint venture.

The agreement which was signed in presence of HH Sheikh Mansour bin Zayed Al Nahyan, the UAE's Minister of Presidential Affairs, provides for setting up a joint company with a capital of US$500 million, to be shared equally by the two sides, to create development projects in Libya, covering real estate and tourism fields.

The agreement was signed by Dr Hamed Al Hudairi, Chairman of the SEDF and Yousif Al Nowais, Director General of Al Mibar.

The SEDF also signed an agreement with Abu Dhabi Executive Council for cooperation and joint investments in energy production in Libya and abroad.

[GPC news ]