Egyptian pound rebounds at June 16 close – CBE    China's urban unemployment rate falls in May '25    Egypt, IFC explore new investment avenues    Israel, Iran exchange airstrikes in unprecedented escalation, sparking fears of regional war    Rock Developments to launch new 17-feddan residential project in New Heliopolis    Madinet Masr, Waheej sign MoU to drive strategic expansion in Saudi Arabia    EHA, Konecta explore strategic partnership in digital transformation, smart healthcare    Egyptian ministers highlight youth role in shaping health policy at Senate simulation meeting    Egypt signs $1.6bn in energy deals with private sector, partners    Pakistani, Turkish leaders condemn Israeli strikes, call for UN action    Sisi launches new support initiative for families of war, terrorism victims    Egypt's President stresses need to halt military actions in call with Cypriot counterpart    Egypt's GAH, Spain's Konecta discuss digital health partnership    Environment Minister chairs closing session on Mediterranean Sea protection at UN Ocean Conference    Egypt nuclear authority: No radiation rise amid regional unrest    Grand Egyptian Museum opening delayed to Q4    Egypt delays Grand Museum opening to Q4 amid regional tensions    Egypt slams Israeli strike on Iran, warns of regional chaos    Egypt expands e-ticketing to 110 heritage sites, adds self-service kiosks at Saqqara    Egypt's EDA joins high-level Africa-Europe medicines regulatory talks    US Senate clears over $3b in arms sales to Qatar, UAE    Egypt discusses urgent population, development plan with WB    Egypt's Irrigation Minister urges scientific cooperation to tackle water scarcity    Egypt, Serbia explore cultural cooperation in heritage, tourism    Egypt discovers three New Kingdom tombs in Luxor's Dra' Abu El-Naga    Egypt launches "Memory of the City" app to document urban history    Palm Hills Squash Open debuts with 48 international stars, $250,000 prize pool    Egypt's Democratic Generation Party Evaluates 84 Candidates Ahead of Parliamentary Vote    On Sport to broadcast Pan Arab Golf Championship for Juniors and Ladies in Egypt    Golf Festival in Cairo to mark Arab Golf Federation's 50th anniversary    Germany among EU's priciest labour markets – official data    Cabinet approves establishment of national medical tourism council to boost healthcare sector    Egypt's PM follows up on Julius Nyerere dam project in Tanzania    Egypt's FM inspects Julius Nyerere Dam project in Tanzania    Paris Olympic gold '24 medals hit record value    A minute of silence for Egyptian sports    Russia says it's in sync with US, China, Pakistan on Taliban    It's a bit frustrating to draw at home: Real Madrid keeper after Villarreal game    Shoukry reviews with Guterres Egypt's efforts to achieve SDGs, promote human rights    Sudan says countries must cooperate on vaccines    Johnson & Johnson: Second shot boosts antibodies and protection against COVID-19    Egypt to tax bloggers, YouTubers    Egypt's FM asserts importance of stability in Libya, holding elections as scheduled    We mustn't lose touch: Muller after Bayern win in Bundesliga    Egypt records 36 new deaths from Covid-19, highest since mid June    Egypt sells $3 bln US-dollar dominated eurobonds    Gamal Hanafy's ceramic exhibition at Gezira Arts Centre is a must go    Italian Institute Director Davide Scalmani presents activities of the Cairo Institute for ITALIANA.IT platform    







Thank you for reporting!
This image will be automatically disabled when it gets reported by several people.



Arab Contractors poised after agreement between Egypt and Libya
Published in Ahram Online on 12 - 12 - 2010

The manager of Arab Contractors has welcomed an official agreement between Egypt and Libya that will give Egyptian construction companies a greater share of the country's infrastructure projects.
"The Libyan market is more competitive than before", said Osman El Shemi, who sits on the Board of Directors as well as managing the company's Libyan operations.
The Egyptian construction company recently won a bid to build a 70 km long road in Tobrok, which lies close to the Egyptian border, beating off rival bids from Turkey and China. "Market forces are currently driving the market making it harder for Egyptian companies," El Shemi told Ahram Online in the Libyan capital of Tripoli.
"In the past, Egypt enjoyed preferential treatment which enabled us to engage in every public project," said El Shemi, adding that the liberalization of the Libyan economy has seen Egypt's share in its construction market contract. Arab Contractors has operated in Libya since the 1960s, working on infrastructure, public and military projects.
The reputation of Egyptian firms has suffered in Libya from the inefficiency and low standards of quality of smaller companies. "Unfortunately, this tainted our reputation, and contributed in decreasing our market share," added El Shemi.
Since launching, in 2008, a program aimed at modernizing its infrastructure, Libya has seen an opening up of its construction projects to foreign firms. "Chinese and Turkish companies have forged their places in the market," explained El Shemi. "They now hold investments of 18 and $20 billion respectively. They are mostly big, well reputed companies. Fortunately, this is about to change."
The official agreement signed two days ago between the two countries gives Egyptian companies the privilege of executing public projects unopposed. A committee made up of delegates from both countries will choose who to award contracts to from large, well reputed Egyptian construction companies.


Clic here to read the story from its source.