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Libya signs infrastructure deals with Egyptian firms to boost reconstruction - Markets & Companies
Libya's Fund for Development and Reconstruction signed two major contracts on Saturday with Egyptian companies for critical development projects across several Libyan cities, part of a comprehensive plan to rebuild the country and enhance its infrastructure.
The first set of contracts was signed with Dr. Assem El-Gazzar, chairman of Neom for Real Estate Development, Trade, and Investment. These projects will focus on reconstruction in cities like Derna and Al-Bayda, which were devastated by Cyclone Daniel in September 2023.
These include developing Wadi Al-Naqa in Derna, which features 800 meters of retaining walls to enhance public safety and prevent landslides. The deals also cover the expansion and modernisation of the 62.5 km road linking the 10th Ring Bridge to Aqabat Al-Bakur, a key route connecting the mountains to the coast.
Projects for Al-Bayda include upgrades to the 22 km western entrance road and the completion of surface roads around the city's two main bridges. Infrastructure works in Derna will also see a new wastewater network and a power treatment plant to boost basic services.
Neom will also construct eight water culverts along Derna's Corniche Road to prevent flooding and improve rainwater drainage. Additionally, it will design and implement a new sewage network and treatment plant in Al-Bayda, with a capacity of 25,000 cubic meters to meet future demand.
In a second round of agreements, Eng. Belqasim Haftar signed additional contracts with Eng. Khaled Madi, chairman of Wadi El Nile for General Contracting. These aim to strengthen further road networks, bridges, and electricity infrastructure in key regions.
These projects include completing Phase 2 of the Al-Bakur Bridge and Road, implementing electrical works along the Tobruk–Emsaad Road, and surface works for the Al-Sement Bridge and Al-Tayyara Roundabout in Benghazi.
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