Turkey-Libya relations which were interrupted due to “Arab Spring” and developments experienced the construction sector, have started to revive. To participate in Turkey – Libya Joint Working Group Meeting, the Libya Planning Minister Tahir Jehaimi, and his accompanying delegation, whom are already in Turkey, held a meeting at the headquarters of Turkey Contractors Association (TMB) to find the resolution of the problems and regarding the implementation of new projects. During the meeting hosted by TMB Board of Directors Chairman Mithat Yenigun, representatives of Turkish contracting companies that are working and dealing with troubles in Libya were also present.
Emphasizing that Libya is the first country where Turkish contractors went abroad in 1972, TMB President Mithat Yenigun said: “From that date up to today, the third country with the total project cost of 28.9 billion USD is Libya, where our contractors undertake work the most. Prior to the domestic disturbances in Libya, our company had a business volume of up to 4 billion USD per year. Therefore, Libya, as in the past, is important for us both today and in the future.”
Underlining that despite the problems experienced by Turkish contractors in recent years, they are willing to return to Libya and start their business from where they are, Yenigun said: “The total amount of our projects in Libya is 19 billion USD. The outstanding receivables amounted to USD 1 billion, the collateral amount to USD 1.7 billion and the total amount of inventory such as machinery, equipment and other losses amounted to US $ 1.3 billion. At present, 50 million USD commission is paid annually by our companies for letters of guarantee. With the Memorandum of Understanding signed in the Joint Working Group Meeting held under the presidency of Minister of Trade Mr. Ruhsar Pekcan and uygulathe Libya Planning Minister Mr. Jehaimi, it is of utmost importance that a road map be prepared within 3 months for the solution of the problems experienced by our contractors in Libya. We believe that the work will be an important step towards resolving our longstanding problems.”
JEHAIMI: “We will prioritize projects close to completion in safe zones”
In his speech at the meeting, Libya Planning Minister Taher Jehaimi announced that they will start a comprehensive zoning program, especially priority will be given to infrastructure projects. Noting that they would provide support from the World Bank and international organizations for the financing of this program Jehaimi said: “For us, we would like to work again with Turkish companies which have a privileged place in the framework of the new program. We are serious in this process and we have good intentions.”
