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Two investment projects in Ferzol, Ghazir generate 142 jobs

7-6-2018

The chairperson of the Investment Development Authority of Lebanon (IDAL), Nabil Itani, handed over the package deal contract to Global Snacks S.A.L. He lauded the project as part of the agri-food sector that boasts a huge potential for growth and expansion abroad, pointing to numerous promising opportunities of investment in the field. According to IDAL’s statement, the USD 10 million worth undertaking involves setting up a factory in Furzol, Bekaa to produce flour and all kinds of grains, rice and corn chips as well as fruit and chocolate muesli. It is anticipated to create some 92 jobs. The incentives include full exemption from income tax and reduction of construction permit fees, as well as, full exemption from real estate registration fees and work permits of all categories to foreign workforce. Itani last week has handed over the package of incentives to General Paints Company S.A.L. which aims to expand the existing factory in the area of Ghazir to produce special car paints and derivatives. The size of investment stood at about USD 8 million with around 50 new generated jobs. (Al Mustaqbal, Al Diyar, June 7, 2018)

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