Turkish companies agree to resume unfinished projects in Libya

Turkish companies agree to resume unfinished projects in Libya

February 03, 2019 - 20:20
Posted in:
Written By: AbdulkaderAssad

File photo

Libyan-Turkish joint constructions committee has agreed to resume work on projects unfinished by Turkish companies in Libya.

Turkish Trade Minister, Ruhsar Pekcan, said in a meeting with the Planning Minister of the Presidential Council (PC) Taher Al-Jahimi on Friday that Turkey gives priority to the development of economic and trade relations with Libya, adding that trade exchange with Libya had increased hitting 65.3%, according to Turkish Daily Sabah newspaper.

Al-Jahimi explained that the PC has prepared a comprehensive plan to rebuild the infrastructure in Libya, expressing desire to have Turkish companies carry out the work after all issues would have been resolved.

Meanwhile, the Turkish Contractors Association's Chairman, Mithat Yenigün, said Libya is the third country in which they have conducted several projects, saying the projects have been worth 28.9 billion dollars.

"Turkish companies' unfinished projects are worth 19 billion dollars and there are unpaid dues of one billion dollars, let alone 1.7 billion dollars of collateral amount and losses of about 1.3 billion dollars." Yenigün explained.

Turkish companies left Libya after February 17 revolution in 2011, thus leaving behind many unfinished projects.