Rebuilding Libya will cost nearly half a trillion dollars
Head of Libya's contractors' union estimates that rebuilding the country will cost 450 billion dollars, and that most of the contracts will be won by Egyptian companies
Abdul-Majd Kosher, head of Libya’s Contractors Union affirmed that Libya requires an estimated 450 billion dollars over the course of the next five years to be able to rebuild the country.
In a press release, Kosher stated that the reconstruction process will require no less than three million skilled workers in construction, noting that Egyptian workers are the most qualified to help in rebuilding the country after the wars and civil conflicts of the last ten years.
Egypt has a long history of providing Libya with the necessary manpower for construction, and now with the appointment of the country’s new government and Libya’s continued path to progress and stability, there are also new opportunities in infrastructure, railways, bridges, roads, housing, sanitation and oil.
Kosher expects that Egyptian companies will outperform other nations such as china and turkey, looking to take advantage of the opportunity to rebuild Libya to their benefit.
Recently, Libya’s Ministry of Labour and Egypt’s Ministry of Manpower and Immigration reached an agreement to expedite the return of Egyptian workers to Libya.
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