GNS Investment Minister: 30 billion euros of Chinese financing provided for Libyan metro project

Alwasat - Cairo Mon 15 May 2023, 05:17 PM
alwasat radio

The Minister of Investment for the parliament-appointed Government of National Stability (GNS), Ali Al-Saadi Al-Qaidi, said on Monday that his government signed an agreement with a consortium of foreign companies to complete the work of a metro project with Chinese financing amounting to 30 billion euros.

Al-Qaidi was quoted by the Sputnik news agency as saying: “The Libyan government signed an agreement to establish a metro in cooperation with a consortium of foreign companies, which includes BFi Management, the China Railway International Group, the global engineering firm Arup (UK Based) with offices in Singapore and France, and Germany's Siemens."

Al-Qaidi added that “the Chinese state is the main financier of this project,” noting that “the agreement for the project does not impose any funding from the general treasury of the Libyan state.”

The completion period for the project ranges from seven to nine years, according to Al-Qaidi, who indicated that this project “was agreed upon by the previous regime in what is known as the Libya of Tomorrow project, but because of the wars that took place, many projects were disrupted, including this one.”

On Sunday, Deputy Prime Minister Ali Al-Qatrani, received a delegation from BFi in the city of Benghazi, to discuss a number of projects, primarily to do with transportation, residential housing and solar energy.

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