By Hadi Fornaji.
Tripoli 28 July:
A series of road halts . . .[restrict]and the development of a health spa are two projects planned by the new Libyan subsidiary of a leading Egyptian construction company.
The Arab Contractors, one of Egypt’s largest corporations, plans to establish an independent company in Libya.
Two major schemes are currently underway. The Papyrus Project is to see the construction of service stations and hotels along the Egypt-Libya international highway, while there is also to be the development of complex at the sulphur baths at Tagora.
The new firm ‘The Libyan Arab Contractors for Development and Contracts’, set up with a capital of LD10 million will focus on general contracting and infrastructure works, such as bridge-building and pipe assembly.
The Libyan Arab Contractors for Development and Contracts said it will be offering services based on international standards and will be supported by its parent company’s 57 years of experience.
The Egyptian owners believe the projects are the first major cooperation between the Libyan and Egyptian governments since the revolution. The state-owned Egyptian company has also set up another business, The Arab Contractors in Libya for Maintenance and Construction and signed a memorandum with the Libyan Highways Service Company.