Libya is planning to complete 477 projects with a total value of $500bn by 2020, according to James Thompson, president of the Libyan office of US-based Aecom and chief executive of its international government services department.
Of these, 322 are yet to be awarded, with a further 155 in earlier stages of development and planning.
Speaking at Abu Dhabi’s Arabian World Construction Summit 2010 (AWCS) on 25 May, Thompson said the average housing contract being tendered in Libya ranges from LD750m to LD1.5bn ($567m to $1.1bn). Infrastructure contracts range from LD500m to LD750m, he added.
Aecom is directly managing Tripoli’s Housing and Infrastructure Board (HIB) programme and is consulting on its nationwide initiative to modernise every urban centre throughout the country.
Under the HIB programme Libya is planning to develop 26 large-scale housing projects providing an estimated 115,000 units and housing around 625,000 people (MEED 28:4:10).
Other government initiatives include a $22bn strategy to create a state-of-the-art rail and port network, industrial developments involving an investment of around $5bn, and $1bn modernisation of Tripoli’s existing transportation network.
Aecom is directly responsible for preparing and distributing prequalification documents for Libyan projects and is also consulting on government contract awards.