Libya will invest $140 billion in reconstruction

Libya could be investing $140 billion on infrastructure, energy, utilities and industry to assure a sustainable future within the next 10 years of the rebuilding process. A major business conference dubbed “Libya Projects 2013” will be organized by MEED, in association with Business Mirror from the 3rd – 5th of June, to verse local and international stakeholders about the plans. The conference will also dwell on the government’s effort to boost and attract direct foreign investment.
Chairman Edmund O’ Sullivan of MEED Events said the conference will be an opportunity to present accurate and reliable information about Libyan projects. It will be “the best opportunity for companies to correctly access Libya’s projects market,” he added. Government dignitaries and leading private sector companies will present an overview of the political and economic reforms undertaken by the government with regards to the 10-year plan.
Part of the projects include a Gecol’s capacity building program in the power sector which will see installed capacity rise from about 13,000MW in 2012 to 20,000MW by 2020. The busiest Libyan airports will be given a $2,5billion upgrade in a bid to increase passengers from an estimated 5 million a year to 28 million. The government is anticipating a shortage of 500,000 housing units by 2020 and will be embarking on building 200,000 new homes to reduce the gap.
Interest in Libyan projects has been swelling and interested entities are urged to register as soon as possible to avoid disappointments in booking a place in Libya Projects 2013 which is being supported by major companies around the world.
The conference will also be an opportunity to learn about how to establish joint ventures with local firms in order to take advantage of massive opportunities in the projects market.