Libya Business News
Tuesday, February 7, 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

Protasco Returns to Libya

18th June 2013
in Construction & Engineering
Protasco Returns to Libya
Share on FacebookShare on Twitter

Malaysia-based Protasco Bhd, a mid-sized integrated infrastructure company, is to return to Libya at the end of June after halting operations in 2011 due to the revolution.

Group managing director Datuk Chong Ket Pen (pictured) told StarBiz:

"We have written off RM20 million [$7 million] in provision in the past two years for our halted operations in Libya.

"Our machines are still there. We've been asked to start work by the government and our team has gone back a few times.

"... given that we have written off all our provisions in the past two years. There will be no more losses."

Chong added that the company was also seeking compensation from the Libyan government relating to losses and depreciation incurred as a result of the revolution.

He said the firm still had RM60 million worth of jobs from two contracts in Libya to be done.

Before the revolution, Libya was touted as the next gold mine for Protasco to strengthen its order-book.

(Source: StarBiz)

Tags: MalaysiaProtasco

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.