No Result
View All Result
Sunday, July 13, 2025
23 °c
Tripoli
24 ° Sat
24 ° Sun
  • Advertising
  • Contact
LibyaHerald
  • Home
  • Libya
  • Business
  • Opinion
  • Magazine
  • Advertising
  • Login
  • Register
SUBSCRIBE
  • Home
  • Libya
  • Business
  • Opinion
  • Magazine
  • Advertising
  • Login
  • Register
No Result
View All Result
LibyaHerald
No Result
View All Result
Home Business

Turkey given priority in Libya contracts, security provided for electricity projects: Serraj

bySami Zaptia
August 25, 2020
Reading Time: 3 mins read
A A

By Sami Zaptia.

(Photo: Social Media).

London, 25 August 2020:

  • Turkish companies to be given priority in business contracts
  • Turkey’s military support against Hafter rewarded with business ”dividend”
  • Electricity contracts to be prioritized
  • Talks with Turkish companies are positive
  • Turkish companies returning ‘‘soon’’
  • GECOL has met Turkish company’s security demands

 

In the clearest indication yet that Turkish companies will receive favourable Libyan treatment in business contracts, Faiez Serraj, the internationally recognized Libyan prime minister, said Turkish companies will return ‘‘soon’’ to complete some of their stalled contracts.

During a pre-recorded speech last night, Serraj made no effort to hide the fact that this Turkish favouritism was a political dividend to Turkey for the support it had given his government against the Khalifa Hafter attempt to militarily take Tripoli.

RELATED POSTS

Libya Development and Reconstruction Fund signs contract with Turkey’s Ankamenia for maintenance of Benghazi University’s medical colleges

Aldabaiba and Menfi stress use of polling feedback to establish consensus basis for constitutional process: report and analysis

Speaking specifically about electricity projects, Serraj said that talks had been positive with Turkish companies such as ENKA and others about their return.

Revealingly, but without giving further details, he claimed that [restrict paid=”true”] the state General Electricity Company of Libya (GECOL) had ‘‘fulfilled their security demands’’.

He made no mention of the issue of the payment of old debts. However, speaking to representatives of companies with existing stalled projects in Libya, it was made clear to Libya Herald that companies would not return to resume their projects in Libya without some sort of favourable agreement on payment. This would need to satisfy some mechanism for the settlement of old debts and guarantees that new debts would also be paid.

It is difficult to over speculate about this issue, however, the issue of security for foreign contractors is an issue of paramount importance.

Whilst different companies from different countries of the world have different security thresholds, a return of Turkish companies to Libya would be watched closely by other companies with stalled contracts in Libya. If a workable formula is reached in Libya, other companies from other countries will be studying it closely to see if it can be replicated for them.

It will be recalled that Libya and Turkey signed an MoU on 13 August this year. The agreement was part of cooperation between the two countries to complete 184 stalled Turkish construction projects in Libya estimated at US$ 16 bn.

Speaking at a press conference after the signing event, Tripoli’s Planning Minister, Taher Al- Jahemi said Turkey had the ‘‘lion’s share” of projects in Libya. ‘‘Turkey has infrastructure projects in Libya estimated at 20 percent of the total existing projects contracted between 2008-2012, which is one of the largest shares for countries with projects contracted with the Libyan state, estimated at 184 projects’’.

It will be recalled that Turkish companies were forced to leave Libya in 2018 when three engineers were kidnapped and held hostage for eight months before finally being released.

But it must also be borne in mind that since the 2011 Libyan revolution there have been numerous reports or announcements that companies were about to return to Libya to complete their stalled projects. At the end, the issues of the lack of security and lack of payment for old debts have prevented any company from making a serious long-term return

(see links below for detailed reports over the last eight years of announcements of agreements on payments of debts and the return of foreign contractors).

[/restrict]

 

https://www.libyaherald.com/2020/08/22/turkish-companies-prepared-to-return-to-complete-stalled-projects-in-libya-libyan-finance-ministry/

 

https://www.libyaherald.com/2020/08/14/libya-and-turkey-sign-trade-understandings-to-complete-184-stalled-projects-worth-us-16-bn/

 

https://www.libyaherald.com/2020/08/18/eastern-cbl-to-investigate-libyan-banks-problems-with-turkish-letters-of-guarantee/

 

https://www.libyaherald.com/2017/02/08/libya-and-turkey-set-up-committee-to-oversee-return-of-turkish-companies/

 

https://www.libyaherald.com/2013/02/17/libya-turkey-20-billion-payments-deal-seems-nearer/

https://www.libyaherald.com/2018/03/30/chinese-contracts-to-be-reviewed-by-new-pc-committee/

 

Tags: featuredGECOL General Electricity Company of Libyasecuritystalled contractsTurkey Turkish

Related Posts

CBL receives results from meetings with international banks
Business

CBL workshop on ‎”The Role of the Banking Sector in Revitalising Stalled Housing Projects and Urban Development”‎ to be held in Tripoli on 13 July

July 11, 2025
Preparations for the second ‘‘Made in Libya’’ edition in Niamey, Niger progressing
Business

“Made in Libya” exhibition to be held in Benghazi from 10 to 13 August

July 11, 2025
Sirte and BACB to improve cooperation
Business

Sirte Oil completes drilling of horizontal well in Zilten field producing 1,985 bpd using local cadres

July 11, 2025
Libya Development and Reconstruction Fund signs contract with Turkey’s Ankamenia for maintenance of Benghazi University’s medical colleges
Business

Libya Development and Reconstruction Fund signs contract with Turkey’s Ankamenia for maintenance of Benghazi University’s medical colleges

July 10, 2025
Libyan olive oils win gold at Anatolian, Berlin and Japan 2025 international olive oil competitions
Business

Libyan olive oils win gold at Anatolian, Berlin and Japan 2025 international olive oil competitions

July 10, 2025
NOC announces force majeure at Zawia port
Business

Libyan Fertiliser Company’s urea plant achieves a 95 percent production rate

July 10, 2025
Next Post

Turkish contractors: an overview of negotiations on their return to Libya

WHO alarmed by rapidly escalating Libya Coronavirus cases

ADVERTISEMENT

Top Stories

  • Benghazi port receives 398 containers of mixed goods, 25,000 tons of wheat, 28,500 tons of barley and 6,000 tons of cement

    All imports into Libya must be paid for through official bank transactions

    0 shares
    Share 0 Tweet 0
  • BP to reopen office in Libya, Shell discusses prospects for cooperation in oil field development‎

    0 shares
    Share 0 Tweet 0
  • Libya Development and Reconstruction Fund signs contract with Turkey’s Ankamenia for maintenance of Benghazi University’s medical colleges

    0 shares
    Share 0 Tweet 0
  • Libyan olive oils win gold at Anatolian, Berlin and Japan 2025 international olive oil competitions

    0 shares
    Share 0 Tweet 0
  • Aldabaiba opens First Phase of Tripoli’s Third Ring Road

    0 shares
    Share 0 Tweet 0
ADVERTISEMENT
LibyaHerald

The Libya Herald first appeared on 17 February 2012 – the first anniversary of the Libyan Revolution. Since then, it has become a favourite go-to source on news about Libya, for many in Libya and around the world, regularly attracting millions of hits.

Recent News

CBL workshop on ‎”The Role of the Banking Sector in Revitalising Stalled Housing Projects and Urban Development”‎ to be held in Tripoli on 13 July

Attorney General provides update on investigation of incidents resulting from Tripoli 2025 armed clashes and demonstrations

Sitemap

  • Why subscribe?
  • Terms & Conditions
  • FAQs
  • Copyright & Intellectual Property Rights
  • Subscribe now

Newsletters

    Be the first to know latest important news & events directly to your inbox.

    Sending ...

    By signing up, I agree to our TOS and Privacy Policy.

    © 2022 LibyaHerald - Powered by Sparx Solutions.

    Welcome Back!

    Login to your account below

    Forgotten Password? Sign Up

    Create New Account!

    Fill the forms below to register

    *By registering into our website, you agree to the Terms & Conditions and Privacy Policy.
    All fields are required. Log In

    Retrieve your password

    Please enter your username or email address to reset your password.

    Log In
    No Result
    View All Result
    • Login
    • Sign Up
    • Libya
    • Business
    • Advertising
    • About us
    • BusinessEye Magazine
    • Letters
    • Features
    • Why subscribe?
    • FAQs
    • Contact

    © 2022 LibyaHerald - Powered by Sparx Solutions.

    This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.