Libya, April 29: Italy’s Finmeccanica on Wednesday opened a helicopter assembly and maintenance factory in Libya in a joint venture with Tripoli at a cost of almost 18 million euros (24 million dollars).
The plant has been built in Abu Aisha, in the Tarhuna region, 50 kilometres (30 miles) southeast of the capital, by Liatec (Libyan-Italian Advanced Technology Company), a joint venture between the company and the Libyan state.
Amedeo Caporaletti, president of AgustaWestland, a helicopter subsidiary of defence firm Finmeccanica, said that Liatec’s start-up capital was set at 10 million euros and the project’s cost was estimated at 18 million euros.
The factory will initially assemble four AW139 helicopters a year, he said, adding the target was for the project to open other African markets.
—Agencies