Libya wants to sell investments carried out in São Tome and Principe

21 March 2014

Two envoys from the Libyan government are in Sao Tome to negotiate the sale of a mineral water bottling factory built two years ago at a cost of US$6.6 million, the Sao Tome press reported.

The factory was built on the outskirts of Monte Café, a former agricultural company around 20 kilometres from the Sao Tome capital. Assembly of the equipment needed for the factory to start operating was stopped after the fall of the former Libyan regime.

“This investment made two years ago is at a standstill and so that it does not turn into a white elephant it has been put up for sale so that it can start operating and give jobs to some people,” said Américo Neto, coordinator of the Libyan projects in Sao Tome and Principe.

Neto said that whoever bought the factory would only need to buy a 120-kilowatt generator and hire technicians to set up the machinery.

Alongside this investment, Libya spent US$3.4 million on the former Monte Café company by planting 426,000 coffee bushes and refurbishing old coffee and cocoa processing and drying systems. (macauhub)