The newly-formed Libyan-Qatari Holding Company (LQC) has bought land in a number of Libyan towns and cities to build housing projects . . .[restrict]aimed at the younger Libyan market.
According to the company’s director-general, Wahid Barshan, the company “will start to build during the coming few days, units for the Libyan youths, particularly those with low wages as a first phase. We also plan to invest in regional hospitals and medical centers in smaller towns.”
The company, with $100 million capital, was formed in February by Qatari busineesman Ghanim Bin Saad and a number of Libyan businessmen. The latter have a 40-percent share.
Speaking in Tripoli last week, Barshan has said there would be 11 subsidiaries in the new company. These would focus on construction and reconstruction projects, food industries, petrochemical industries, telecommunications, health, education, hotels and tourism, and oil services. It plans to partner with international companies in the various sectors.
Without specifying the number of projects or costs, Barshan said that the company’s priorities were “to help address the economic and housing needs of Libya, in addition to supporting the economical and political development in the country.” He believed that it would also provide ample job opportunities for young Libyans.
The new company is also looking opportunities beyond Libya but which relate to its development.
Earlier this month, a number of LQC officials were in the Tunisian town of Medenine, just across the Libyan border, to examine investment opportunities there. According to LQC’s Ghazi Moalla, the company is looking at setting up plants in the area to produce building materials for use in the construction of 10,000 houses in Libya.
The area is rich in clay, gypsum and sand.
He also said that LQC was looking at developing a logistics hub at Ben Guerdane, some 30 kilometres west of the Libyan-Tunisian border. This would include a project to develop the nearby Tunisian port of Zarzis and the setting up of a shipping line connecting it to European ports.
He added that the company was also looking at tourist projects in Djerba and Zarzis. [/restrict]