Turkish firms propose finishing Libya's suspended projects in priority order

Turkish firms propose finishing Libya's suspended projects in priority order

March 22, 2019 - 11:03
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Written By: AbdulkaderAssad

The Chairman of Turkey's Association of Construction Material Producers, Mithat Yenigün, said the Turkish firms wish to resume work in Libya despite the current crisis.

Yenigün told Anadolu Agency on Tuesday that Turkey had formed a joint committee with Libya for considering the resumption of projects and for recollecting their financial dues.

He added that his association has proposed to the Libya-Turkey committee that Libya outlines the most vital projects that need to be prioritized for resumption.

Yenigün also said that Libya can terminate projects' contracts as per the laws but paying out the financial dues for the Turkish companies.

He stressed the need for compensating the Turkish firms as they had spent a lot on jumpstarting the projects in Libya, which wishes to cancel some of those projects.

"Libya should provide security for the companies to return and work on resumption." He remarked.

The suspended projects are worth about 19 billion dollars and the companies require about a billion of financial dues for their previous work, let alone insurances of about 1.7 billion dollars, Yenigün explained.

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