Lebanon Businessnews News

Cabinet approves
seven industrial zones
Three international parties to finance $120 million
Share     Share on Facebook     Share on LinkedIn    
The Cabinet has approved a project to establish seven industrial zones across the country.

The projects, submitted by the Ministry of Industry (MoI), would establish industrial zones in Baalbek, Al Qaa, Anjar, Taanayel, Baawerta, Halba, and Koura, in cooperation between the private and public sector.

The industrial zones will be centers for modern industries that rely on technology, innovation, and for agro-food industries that have a competitive edge.

The Italian Government has granted €500,000 ($550,000) to execute the master plans. Three international parties have agreed to finance $120 million to establish industrial zones in Baalbek, and Al Qaa: European Investment Bank, European Bank for Reconstruction and Development (EBRD), and the Italian Government, according to Dany Gedeon, Director General at MoI.

The MoI will begin working to provide funds for the remaining industrial zones. “Investors from several countries, including China, showed interest in investing in these projects,” said Gedeon.
Reported by Rania Ghanem
Date Posted: Apr 05, 2019
Share     Share on Facebook     Share on LinkedIn