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Libya Announces Massive Infrastructure Development Program
TRIPOLI, Libya - Sept. 26 (SEND2PRESS NEWSWIRE) -- At a strategic-level workshop in Geneva today organized by the Libya-based advisory firm Phoenicia Group Libya LLC, (www.phoenicia-group.net), senior Libyan government officials unveiled an ambitious multi-billion dollar infrastructure development plan focused on the renovating and construction of airports, roads, housing, schools, hospitals, and water and sanitation projects nation-wide, as well as the Railway Project.  The Railway Project, an ambitious 4,800 km trans-Africa rail network planned to link Tunisia and Egypt and a southern network linking the Libyan cities of Sirte and Sebha and possibly extended to Chad and Niger, was a major talking point and project of interest in the mold of the Great Man Made River Project, a similar mammoth undertaking.Estimated to be worth 9 Billion U.S. Dollars, the Railway Project has been given national priority by Dr.Baghdad Mahmudi, Libyan Prime Minister, with the Railway Executive Board tasked with the implementation of the project. Ryad Sunusi, President & CEO of the privately-held Phoenicia Group and a prominent Libyan businessman and consultant, sees great opportunities for U.S. and international companies in the infrastructure and construction sector in Libya and strongly encourages U.S. and international companies to take advantage of the new opportunities being offered. "Libya is clearly going to be a construction hotspot for the next few years, as the Libyan government has wisely given the infrastructure and railway project national priority and a significant budget," he pointed out. "As an advisory firm to the REB, we encourage U.S. and international companies with the experience and abilities in undertaking similar projects to contact us for more information." The invitation-only event was attended by senior Libyan officials from the General People's Committee of Planning, General People's Committee of Economy, Trade, and Investment, General People's Committee of Transportation and Communications, Railway Executive Board, Civil Aviation Authority, and representatives of international construction and engineering firms, eager to learn more about the announced 2006-2011 infrastructure development plan. Mr.Sunusi shed light on other infrastructure projects slated for tender phase, saying 'Libya needs 450,000 housing units in the next decade to keep up with its rising population.' "Six Billion USD will be earmarked for water and sanitation projects, and 2,000 km of road infrastructure will be renovated under the plan, as well as construction of an additional terminal at Tripoli International Airport and the construction of a brand new airport in Benghazi." Mr.Sunusi added, "There has been tremendous interest shown in the infrastructure plan, with European and Asian companies being particularly aggressive , I strongly encourage U.S. companies to take part in the program, as U.S. companies have historically played a big role in other large-scale projects like the Great Man Made River Project." Phoenicia Group began providing commercial advisory and risk management strategies to improve a competitive position for U.S. companies wishing to do business in Libya in 1999, after relaxation of the Iran Libya Sanctions Act under President Clinton allowing the export of U.S. agricultural products and medicines to Libya. Phoenicia Group expanded rapidly since into the oil & gas, communications, financial, retail, construction, and tourism sectors, making it the leading Libyan private company and consultancy group; and sponsoring the spin-off of the Libyan-American Business Council in 2004 to promote U.S.-Libyan trade and business exchange. About Phoenicia Group Libya, LLC Phoenicia Group Libya LLC, a U.S.-Libyan business consultancy and event management firm, focuses on providing integrated business solutions to U.S. and international firms wishing to establish a foothold for commerce in Libya. For investor information or company information, contact Alan Hines at +1 415 992 8174, or visit www.phoenicia-group.net.
NEWS SOURCE: Phoenicia Group Libya LLC
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Phoenicia Group Libya LLC : » Phoenicia Group Consolidates Libya Operations; Plans Further Expansion » Libya Tells Foreign Companies to Form Joint Ventures with Libyan Companies » Phoenicia Group Tops Libya Analyst Expectations » Libya Seeks U.S. Technology and Partnerships in Energy and Environmental Sectors
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REFERENCES: Libya Announces Massive Infrastructure Development Program, Phoenicia Group Libya LLC, The Railway Project, an ambitious 4,800 km trans-Africa rail network, Ryad Sunusi, General People's Committee of Planning, General People's Committee of Economy, Trade, and Investment, General People's Committee of Transportation and Communications, Railway Executive Board, Civil Aviation Authority, Tripoli International Airport, press release, Sep 26, 2006. |
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