By Sami Zaptia.
Tripoli, 7 June 2013:
Speaking on Tuesday at the second day of the MEED “Libya Projects 2013” conference in Tripoli, . . .[restrict]Mahmoud Ajaj, Chairman of the Housing and Infrastructure Board (HIB), said that whilst HIB could have between 15-50 bn’s worth of projects, ODAC could also have up to LD 45 bn and the Real Estate Investment Bank could have up to LD 12 bn of projects.
This could total up to LD 119 bn worth of projects.
Moreover, the HIB head added that with infrastructure and utilities as well as the need to upgrade services such as internet, he expected that in reality the total value of Libya’s projects would double over the next few years.
If Ajaj’s assessment is valid, this could bring the total value of Libya’s projects upto LD 200 bn over the next decade or two.
Ajaj also pointed out that HIB had only received LD 1.5 bn in the 2013 budget, whereas they had requested about LD 32 bn for its projects.
Looking to the future, he forecast that the private sector will begin to play an increasingly greater role in the construction sector. The annual construction needs of the nation were beyond the state budget which is LD 66 bn in 2013, Ajaj added.
It is for this reason that he felt that the role of the private sector is pivotal in the future of the development of the construction sector. [/restrict]
