Trevi Group: "We are Staying in Libya"

Italy's Trevi-Finanziaria Industriale has said it will remain in Libya in spite of its transition problems.

Chief executive Cesare Trevisani told ANSAmed:

"We are staying in a country where there are not just gas and oil, but also construction and other sectors with great potential ...

"We are in a phase which is normal for any transition and Libya remains a priority for us."

The Trevi group started operating in Libya in the 1980s through Soimec with the first provision of drilling plants for the 'great river' ordered by Muammar Gaddafi - a major project entrusted to a Korean company for an underground aqueduct fuelled by vast fossil reserves under the desert which stretches for hundreds of kilometres to serve cities along the coast.

It is involved in the building of the Medina Tower in partnership with a Turkish company, and with the 69 Storey Tower in Tripoli. During the revolution, the company suffered losses of between 2 and 3 million euros in damages and theft from its base in Tripoli and construction sites outside the city, together with another 15-20 million in lost business.

(Source: ANSAmed)

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