British companies are gearing up to compete for billions of pounds worth of contracts in Libya as the oil-rich nation presses ahead with plans to restore its tattered infrastructure, including gas, housing, transport and utilities.
Ahead of elections for the new government expected to be held in June, businesses, officials and advisers are converging on London on Monday for a one-day conference on how companies can best position themselves to win a series of lucrative tenders expected to be awarded over the next few years, according to the Financial Times.
Much of Libya’s infrastructure is in a dire state, with transport, banking, telecommunications, power generation, education, water and sewerage systems in poor condition even by regional standards. Although its oil extraction infrastructure is considered the jewel of its industrial base, its refineries are widely regarded as outmoded and in need of upgrading.
But Libya is also wealthy. Oil income exceeded $12bn in the first quarter of this year, according to official government figures, making reconstruction plans viable. UK Trade and Investment, which promotes British commercial interests abroad and is backing the conference, has estimated that the rebuilding of Libya could be worth $126bn over the next decade.
This conference was oraginsed by City and Financial and supported by many company and SOC Libya Ltd was one of them and its managing director Tarek Alwan was among the speakers.
For more information about the event please see below
Source: Financial Times and SOC Libya
www.soclibya.com
