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Signing (3) Memoranda of Understanding Between Misurata Free Zone and Korean Companies

Dec 20, 2016 | Archive

The Chairman of the Board of Directors and an accompanying delegation visited the Republic of Korea in December 2016 within the framework of attracting and encouraging Korean companies to invest in the free zone. This visit resulted in the following:

  1. Signing an agreement of understanding to form a partnership between Misurata Free Zone and Woolim Engineering Co. Ltd. to establish a factory for assembling cars, provided that the free zone sets up the halls for this industry, and prepare all documents related to the partnership and marketing of these products in the Libyan and foreign markets.
  2. Signing an agreement of understanding to form a partnership between Misurata Free zone and World Furniture Co. Ltd. to establish a factory for the processing of furniture of all kinds, provided that the free zone sets up the halls for this industry and prepares all documents related to the partnership and marketing in the Libyan and foreign markets.
  3. Signing an agreement of understanding between Misurata Free Zone and the JNU Coalition to finance transit trade projects according to the BOT system, which is represented in:
  • The implementation of an infrastructure project of an area of ​​2,200 hectares, including a port designed according the latest international standards on an area of ​​500 hectares and a cargo airport on an area of ​​200 hectares.
  • The implementation of a road conneting the free zone to the south of Libya, up to the Libyan borders with Chad and Niger.

The company’s delegation will travel to Libya after making the necessary arrangements to visit the sites, finalize all designs and documents for the project and meet with the official authorities in the Libyan state.