Libya closes in on Ukraine chemicals plant and farm project

Ukraine has invited Libyan companies to bid for a large fertiliser factory, Prime Minister Yulia Tymoshenko said after talks with her Libyan counterpart, Al-Baghdadi Ali al-Mahmoudi, according to interactiveinvestor.com.

“Ukraine has been trying to sell the Odessa Port chemicals plant for years and had been previously stopped by presidential decrees. This time round, President Viktor Yushchenko is expected to let the auction go ahead later this year.

Libya agreed in May to grow wheat on 100,000 hectares of Ukrainian land and export it back to the North African country, in a deal analysts said was fraught with complications including the purchase of leased lands.”

Ukraine is to create a free-trade zone for Libyan investors, according to the forum www.for-ua.com. Prime Minister Yulia Tymoshenko and Secretary of the General People’s Committee of Libya al-Baghdadi Ali al-Mahmudi agreed that they may have found a starting point for removing trade barriers between the states that may lead to the creation of free trade zone.

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