Libya: $10bn to Upgrade and Expand Refining & Petrochemicals

The Government of Libya has allocated $10bn for a program to upgrade and expand oil refining and petrochemical units. The National Oil Company of Libya has entered into a joint Venture with major international company to operate and expand (Ras Lanuf) petrochemical complex. This will enable the production of polyethylene and polypropylene, giving Libya the potential to manufacture plastics used in packaging materials, plastic bottles and automobile interiors.