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Tripoli, 15 April 2014.
Malaysian conglomerate Protasco expects to complete its remaining projects in Libya by the end of this . . .[restrict]year or beginning of 2015, and would bid for new projects, the Malaysian newspapers Star reports.
The construction and engineering services group managing director, Datuk Chong Ket Pen, had last Thursday reaffirmed Protasco’s decision to complete the projects in Libya.
In June 2013, Chong was reported saying the company was restarting business in Libya at end-June after exiting the country in 2011. He had then said they had some RM 60-million (LD 23-million) worth of jobs from two contracts in Libya to be done.
Chong said Protasco would be bidding for more construction jobs in Libya.
He said late last year, the company restarted its unfinished construction works in Libya worth about RM120 million (LD 46 million).
“We lost about RM 40 million (LD 15 million) in the past three years for our halted operations in Libya. Our machines are still there. We have been called back by the government as they have set aside the RM 120 million supposed to be paid to us.
“As the situation there is stable now, we are planning to undertake more projects. We are now negotiating for a RM 50 million (LD 19 million) bridge repair work,” he added.
Chong pointed out that Protasco’s operations in Libya had been profitable until the revolution interrupted its business.
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