Libya Business News
Friday, June 9, 2023
  • Security
  • Oil & Gas
  • Industry
  • Politics
  • Construction
  • Finance
  • Tenders
  • Transportation
  • Videos
No Result
View All Result
Libya Business News
  • Security
  • Oil & Gas
  • Industry
  • Politics
  • Construction
  • Finance
  • Tenders
  • Transportation
  • Videos
Libya Business News
No Result
View All Result
Home Construction & Engineering

Libya to Issue Progress Payments to Turkish Contractors

23rd July 2012
in Construction & Engineering, Industry & Trade, Oil & Gas
Libya to Issue Progress Payments to Turkish Contractors
Share on FacebookShare on Twitter

The Libyan Prime Minister, Abd al-Rahim Al-Keeb [Al-Kib, Al-Keib] (pictured), has reportedly issued a directive whereby Turkish contractors doing business in Libya would immediately receive half of the payments due to them.

In a written statement released on Sunday, Turkish Economy Minister Zafer Caglayan said that Libya would immediately pay 50 percent of the progress payments due to Turkish contractors and that the contractors could resume construction activities shortly.

While the precise figure involved is not yet clear, Libya Herald reports that at the start of the revolution $1.4 billion of contractual payments was owed to Turkish firms. Earlier this year, the interim prime minister agreed to pay $400 million of this outstanding debt.

The news agency was unable to confirm with the Turkish economy ministry whether this money has already been paid or is included in the $700 million that is due to be paid straight away.

(Sources: Turkish Weekly, Libya Herald)

Tags: Turkey

Latest News

Enterprise Greece Delegation in Libya to Develop Bilateral Business Ties

Enterprise Greece Delegation in Libya to Develop Bilateral Business Ties

4th October 2021
Dbaiba Meets with Eni's CEO Descalzi to Discuss Areas of Cooperation in Libya

Dbaiba Meets with Eni's CEO Descalzi to Discuss Areas of Cooperation in Libya

22nd March 2021
Latest Oil Tenders

Latest Oil Tenders

16th March 2021

Recent News

Enterprise Greece Delegation in Libya to Develop Bilateral Business Ties

Enterprise Greece Delegation in Libya to Develop Bilateral Business Ties

4th October 2021
Dbaiba Meets with Eni's CEO Descalzi to Discuss Areas of Cooperation in Libya

Dbaiba Meets with Eni's CEO Descalzi to Discuss Areas of Cooperation in Libya

22nd March 2021

Categories

  • Security
  • Oil & Gas
  • Industry
  • Politics
  • Construction
  • Finance
  • Tenders
  • Transportation
  • Videos

Menu

  • Home
  • About Us
  • Contact

Join our mailing list!

Sign-up to receive email updates on the latest news and developments.





© 2021 Libya Business News - Your Libyan business news partner

No Result
View All Result
  • Security
  • Oil & Gas
  • Banking & Finance
  • Politics
  • Industry & Trade
  • Construction & Engineering
  • Investment
  • Tenders
  • Transportation
  • Videos
  • Contact Us

© 2021 Libya Business News - Your Libyan business news partner

We use cookies on our website to give you the most relevant experience by remembering your preferences and repeat visits. By clicking “I Agree”, you consent to the use of ALL the cookies.