Tripoli, 1 June 2013:Libya is expected to invest $140 billion in projects over the next decade as the country embarks on building a sustainable future.
Towards this end, a major business conference is being organised in Tripoli to provide local and international stakeholders an essential guide to the developments and projects across critical infrastructure, energy, utilities and industry sectors that will accelerate rebuilding efforts in Libya.
Libya Projects 2013, organised by MEED in association with Business Mirror (BM), will dissect the new wave of projects that will be undertaken in Libya over the next decade.
Included in these projects will be Gecol’s capacity building programme in the power sector which will see installed capacity rise from about 13,000MW in 2012 to 19,000-20,000MW by 2020.
In aviation, the newly-installed government has planned a $2.5 billion upgrade of the state’s busiest airports aimed at expanding capacity to about 28 million passengers a year from an estimated 5 million.
The housing sector is another critical investment focus. The government estimates that the country will face a housing shortfall of 500,000 units by 2020. The Housing & Infrastructure Board (HIB) has been tasked to deliver 200,000 new homes, with supporting infrastructure in the next seven years.
“There is currently a dearth of accurate and reliable information on the opportunities in the projects market in Libya which the conference hopes to address. Attended by leading authorities and key stakeholders, Libya Projects 2013 offers the best opportunity for companies to correctly access Libya’s projects market,” said Edmund O’ Sullivan, Chairman, MEED Events, organisers of Libya Projects 2013 in cooperation with Business Mirror (BM) Libya, and supported by the General National Congress.
Under the patronage of the General National Council, Libya Projects 2013 will gather key government officials and entities as well as leading private sector companies who will provide an expert overview of the wide-ranging political and economic reforms currently being implemented in Libya and the impact of these initiatives on the projects sector.
Confirmed speakers include Juma Attiga, Vice President, General National Congress; Awad Elbarasi, Deputy Prime Minister, Libya; Ali Hussein Al- Sharif, Minister of Housing and Utilities; and Dr. Khalil El-Arroudi, Chairman, GECOL.
The conference, scheduled to take place on June 3-5, 2013 at the Corinthia Hotel in Tripoli, will also focus on the government’s programme to promote and attract foreign direct investments in Libya, as well as provide a critical update on existing and stalled projects.
At Libya Projects 2013, delegates can also expect to gain invaluable insights on the government’s anticipated spending plans in the infrastructure and energy sectors; as well as learn how to establish JVs with local firms to take advantage of massive opportunities in the projects market.
Taha M. Krewi, H.O.S of Supplier Management, Almadar Aljadid, the second major telecoms operator in Libya, says private sector support is important in Libya’s rebuilding initiatives, hence their decision to support the conference. “We are working to boost participation in the Libyan economy, and provide high quality of mobile services for Libya. It will be a good opportunity for networking with people in the business to business market focused on rebuilding Libya,” he added.
With interest in Libya’s projects market at a high during this intense rebuilding phase, interested participants are encouraged to register early to book a place in Libya Projects 2013, which is also being supported by Almadar Aljadid, Ernst & Young, Drake and Scull, Electrical Industries Co, Hill International, Keller, Jeddah Cables Company, Saint Gobain Glass, Libya Holdings, Shapoorji Pallonji , Dar Al Handash, Phillips, Parsons & Afriqiyah Airways.