Lebanese tobacco royalties for 2015 to top USD495 million

 

General Director of the state-run Regie company Nassif Siqlawi has revealed that 2015 business figures have reached nearly USD650 million while royalties stood at some USD495 million for the same year. Siqlawi, speaking during the annual gala dinner for the Regie Administration last Monday, announced the opening of what would be the most prominent tobacco factory in the Middle East as well as the launch of new cigarette brands to combat smuggling, pledging to open a new industrial production line in 2016. Siqlawi also declared that the company has implemented tens of vital local development projects as part of its strategy in support of local communities in the south, north and Beqaa areas, and in collaboration with relevant municipalities. “Total procurements of tobacco from the south and north regions are expected to reach this season some LBP95 billion,” he said, while forecasting that 2016 will be full with accomplishments despite the general difficult overall context. (Al Mustaqbal, An Nahar, December 23, 2015)