The recently formed Saudi-Libyan Business Council hopes to participate in Libya’s rebuilding efforts, according to Abdullah Al-Mobty, president of the Council of Saudi Chambers (CSC).
Al-Mobty’s remarks followed a joint meeting earlier this week between the Libyan National Congress and the Council of Saudi Chambers in Riyadh.
The new council is expected to help facilitate new business ventures between Saudi businessmen and Libyans and to kick-start new reconstruction projects.
“We will try to identify viable mechanisms to participate in such programs in Libya,” said Al-Mobty.
The council made several recommendations to the Saudi Embassy in Libya to participate in reconstruction programs estimated to be around $ 10 to $ 30 billion (SR 37.5 to SR 112.5 billion). Such projects would include infrastructure developments, construction of hospitals, roads, water supply and power projects, said Al-Mobty.
He added that the Saudi team would also seek to promote Saudi exports to Libya, especially since construction materials produced in the Kingdom are good quality and available at competitive prices.
“Saudi Arabia has a wide scope to partner with Libya in various petrochemical projects especially in the export of liquid gas to Europe by conventional shipping lines,” said Saad Al-Mojel, chairman of the board of trustees of the Riyadh Economic Forum and chairman of the National Industrial Committee of the CSC.
He urged the council to find alternate and cost-effective means of exporting goods between the Kingdom and Libya, as there are still no direct shipping lines.
New council hopes to bag Libyan contracts
