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Gadhaf al-Dam increases investments in Egypt
Published in Youm7 on 29 - 05 - 2011

Coordinator of the Egyptian-Libyan relations, Ahmed Gadhaf al-Dam, began to put more money into investments in Egypt after the January 25 Revolution in fear of protests flaring up against Libyan presence in Egypt.
Gadhaf al-Dam tried to control staff sit-ins in the new Salhia project, which he owns. He changed the Libyan administration and hired an Egyptian to lead the project after project workers organized several protests to expel Libyan workers and nationalize the project. The project was originally the Ministry of Agriculture's idea but was transferred to businessmen Safwat Thabet and Shafik Boghdadi as a venture aiming to involve Egyptian businessmen in national projects. Thabet and Boghdadi eventually sold their shares to Gadhaf al-Dam.
Project workers protested for the expulsion of the Libyan administration in reaction to al-Dam's ownership.
This caused Gadhaf al-Dam to increase workers' salaries and invest 3 million EGP (U.S. $503,000) into building a new water pipe in order to transform an area of desert near the project into arable land.
Some speculate his actions are out of fear after the ousting of former President Hosni Mubarak and the absence of a government department that will be keen to protect his investments in Egypt.


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