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FINANCIAL NEWS
Eni to build port, plant in Libya
22 Dec 2010
(MENAFN) Italian energy company Eni said that it has signed a memorandum of understanding (MoU) with the Libyan government to build a shipping port and desalination plant, Reuters reported.
Eni Chief Executive Officer Paolo Scaroni signed the MOU in the presence of Libyan Prime Minister al-Baghdadi Ali al-Mahmudi during a weekend ceremony in Tripoli, the energy company said in a statement.
The memorandum outlines the undisclosed terms for construction of a shipping port and related infrastructure, a water desalination plant and 1,000 houses in an area near the Gulf of Sidra.
The Italian company said it signed a memorandum in 2006 with the Gaddafi Development Foundation and Libya’s state-owned National Oil Corp. to help build an innovative program of social projects in the country.
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