The contracts cover the construction of public service networks for gas, drinking water, phone services and pavements in Benghazi and El Beida, both on the coast.

The company hopes to sign the final contracts for the work within six to eight months.

SV Ledico is 60 per cent owned by Sacyr, with the remaining 40 per cent held by Libya’s state-owned Libyan Company for Development and Investment. The joint venture was formed in December 2007.