Italy's Finmeccanica opened a helicopter assembly and maintenance factory in Libya this past Wednesday, in a joint venture with Tripoli, at a cost of almost 18 million euros (24 million dollars).

The plant was built in Abu Aisha, in the Tarhuna region, 50 kilometres southeast of the capital, by Liatec (Libyan-Italian Advanced Technology Company), a joint venture between Finmeccanica 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.