$80m in contracts for Malta from Libya

by a staff reporter

Malta secured $80m worth of contracts from Libya as a result of an agreement signed between Finance Minister John Dalli and Libya's Deputy Prime Minister Bashir Ramadhan Abu Janah yesterday afternoon.

The agreement came after a three-day meeting of the joint Libyan-Maltese delegation led by Minister Dalli and the Libyan deputy prime minister. Originally, the agreement had to be signed on Tuesday, however the agreement was signed yesterday evening after further meetings.

Minister Dalli said the two countries had also negotiated the possibility of two Libyan oil tankers being built at the Marsa Shipbuilding. This contract could serve as a lifeline for the Marsa Shipbuilding, as the 'yard does not have any other work contract at present, except for the construction of the Gozo Channel vessels.

The possibility of two oil tankers being built at the Malta Shipbuilding was discussed during a recent visit to Libya by Malta Drydocks chairman John Cassar White.

Minister Dalli said a substantial part of the agreement concerns work for Maltese switchgear company Medelec Ltd. The company will be providing work to Libya amounting to $60m. Medelec specialises in electrical distribution switchgear, protection and metering panels, and mobile substations.

Libyan Deputy Prime Minister Abu Janah said his country was showing great interest in the African continent and the country was projecting heavy investment in other African states. He added that Libya had opened the door to Malta to take part in similar investment ventures worth billions of liri.

Mr Dalli said the Limsuk operation in Libya will be transformed into a modern trade centre and is expected to house various Maltese organisations such as MDC, Metco and banks. Mr Dalli said the agreement was a sign of the excellent relations between the two countries.

The Libyan deputy prime minister said a technical committee had been set up to ensure the implementation of the agreement.