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By Libya Herald staff.
Tobruk, 2 June 2015:
Tobruk is to have a new industrial district which it is hoped will attract investors . . .[restrict]and businesses to the area.
The 1,000 hectare site in the Batrona district, 15 kilometres south of Tobruk military base is designed to boost jobs and economic activity.
“ This is a huge project” explained Marwan Bakr the spokesman for Tobruk municipality, at a ceremony where a foundation stone was laid. “It is one of the largest and most important projects and we believe it will prove highly attractive to investors”.
It is understood that foreign investors have signalled an interest in the industrial estate but it appears that the talks are at any early stage and no names are being released. Nor has a figure been given for the expected cost of the development,
A major challenge in post-Qaddafi Libya has been the widespread lack of clear property title. This caused some outside investors to shy away and brought some high profile projects to a complete halt. Tripoli’s Renaissance mall and hotel complex and the Intercontinental hotel on the Corniche were both delayed by disputes over who actually owned the sites.
Bakr said that the Tobruk municipality had gone out of its way to ensure that the title to the development was “one hundred percent clear”.
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