Libya Business News
Saturday, January 28, 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

Qaddafi-era Contracts Grossly Overpriced

7th May 2015
in Construction & Engineering, Industry & Trade, Public Works, Security
Qaddafi-era Contracts Grossly Overpriced
Share on FacebookShare on Twitter

In its report for 2014, the Libyan Audit Bureau (LAB) has highlighted three major airport contracts as examples of overpriced projects undertaken during the Qaddafi era.

An assessment by consultants Mott & Arup carried out for the Ministry of Finance discovered:

  • Benghazi airport: contract overvalued by 128 percent;
  • Tripoli airport (pictured): contract overvalued by 57 percent; and,
  • Sebha airport: contract overvalued by 27 percent.

The Audit Bureau recommended that more projects such as the 400,000 housing units projects, which it estimated at LD 80 bn, are financed by alternative non-state finance in order to save the state’s finances.

The full report (in Arabic) can be downloaded here.

(Source: Libya Herald)

Tags: AirportsAudit BureauBenghazi AirportCorruptionMott & ArupSebha AirportTripoli International Airport

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.