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Sunday, 17 March 2019

Egyptian companies want a slice of the USD 20 bn Libyan reconstruction pie

INFRASTRUCTURE WATCH- Egyptian companies want a slice of the USD 20 bn Libyan reconstruction pie: Several Egyptian companies are gearing up to chase what could be USD 20 bn worth of reconstruction contracts as the first phase of Libya’s rebuilding gets underway, Federation of Egyptian Chambers of Commerce Secretary General Alaa Ezz tells Reuters’ Zawya. Companies are eyeing infrastructure, communications, and tourism projects, among others, and some Egyptian players — such as Orascom Construction, Arab Contractors, and Elsewedy Electric — “have already taken serious steps” to get into the action, Ezz says. The federation is currently in talks with development banks, including the African Development Bank, World Bank, and the European Investment Bank, to finance some projects, while others will be executed under a build, operate, transfer framework.

PSA- Can we please all stop calling the Federation “FEDCOC.” Please?

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