Libya Oil Holding Company, Tripoli government oil investment arm in Africa, had won a $300 million deal in Democratic Republic of Congo to build oil storage and control facilities and pipeline, its chief executive officer said on Tuesday.

The contract, part of the company's expansion plan on Africa, involves setting up oil storage, control station facilities near Banana area on the country's Atlantic Coast from where the 140 km (87.5 miles) pipeline would carry petroleum products onto DC Congo, Ali al Shamekh added.

The Company also acquired the retail business of Royal Dutch/Shell in Ethiopia, Djibouti and Sudan, Shamekh said, without giving further details on the deal over 230 petroleum distribution stations in the three countries.

"The deal to buy Shell operations is consistent with Libya Oil Holding Company's global strategy to expand business in Africa," he said.

[Reuters]