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Ranhill project value US$2.4 billion in Libya.
03-09-2007
  An interview with Ranhill president and Chief Executive Officer Tan Sri Hamdan Mohamad
Please give an update on your contract to build apartments in Libya?
It is a housing project where we would build 40,000 units of two-storey and four-storey apartments at three locations.
The project is valued at US$2.4bil, but the design has somewhat changed as the client wanted an upgrade on the quality, size of apartments and a basement car park.
We are finalising the revised pricing and will make the necessary announcement soon.
The first phase involves a block of 10,000 units to be built in the suburb of Tajura, which is 15km from Tripoli .It is a new township and we have begun the earthworks.
Is Ranhill assured of the payment from the Libyan project?
Libya is a rich country and all the big boys of the energy and construction sectors are operating there. Doing business in Libya is good.
For the job, we got a 13% advance payment and the rest is via progress payments that are claimed against an irrevocable revolving letter of credit. Just to secure the job, we had to compete with Chinese and Turkish contractors. It feels really good to have won the contract.
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Libya plans to build a pilot city near the mausoleum of the Libyan martyr,
Omar Mokhtar, in the north eastern town of Seloug.
29-08-2007
Libya plans to build a pilot city near the mausoleum of the Libyan martyr, Omar Mokhtar, in the north eastern town of Seloug, officials said.
Engineers in charge of implementing the pilot city project, which will be built on an area of 681 hectares, have indicated that it will comprise 5,000 houses, including 3,928 villas and 34 four-storey buildings.
The project will also include public service buildings, notably crèches, basic, secondary and vocational schools, health assistance units, a hospital, a university, a conference centre, a sporting club, community halls, a post office, a market, an administrative complex, a central library, a popular security centre, a civil protection station and a petrol station.
Streets, sanitation, communication, electric power, water and gas facilities are also part of the project.
The building works entrusted to the South Korean company "Hyundai" will start in September 2007 and 2,000 houses will be completed by the 40th anniversary of the 1st September Revolution in 2009.
Land clearing, which concern also the promotion and improvement of Omar Mokhtar's mausoleum, have already started.
The secretary of the Libyan People's General Committee for Housing has, on that occasion, indicated that the promotion works in the area, where the mausoleum is located, consist in the building of a museum on the Libyan Jihad, especially that of the oldest Martyr and epitomising sufferings endured by Libyans in the concentration camps in the Italian colonial rule.
He has also said that the pilot city's housing project has been designed in accordance with the specimen of the Libyan house, which matches the country's culture and social life.
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Saif Al-Islam Gaddafi president of Al-Gaddafi development foundation revealed that the plan for economic and social development will cost 82.8 billion dollars for development in Libya.
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The opening of the second largest water reservoir in the world
25-08-2007
"Saif al-Islam Opened yesterday Reservoir of Omar Mukhtar at the green basic people's conference in Benghazi . Omar Mukhtar reservoir is total capacity of (24 million cubic meters) of water GMMRP which is the second largest water reservoir in the world and in Amid the celebrations of the Libyan people the Great 38th anniversary of the Great Revolution.
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Plans to develop the Mataki district of Tripoli are progressing.
A flagship luxury 400-room hotel will dominate the 300,000-sq ft
development, called Burj al-Bahr, which will also incorporate
separate residential and commercial towers serviced by a
shopping arcade, a convention centre, a cinema and 11
restaurants. Construction is expected to take about two years.
Although large, the project will be dwarfed by the New Tripoli
development, run by Dubai Realty International of the UAE. This
project is a massive residential, commercial and leisure
development covering 2m sq metres in the north of the capital. |
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Libya will
develop a $20 billion project very soon .The project has been
announced last year; all necessary action has been taken and
ready to start to make it the largest Arab investment in North
Africa.
The project is a fully contained city consisting of Residential,
Commercial and Business centres, housing for 500,000 people it
includes schools, universities, hospitals and entertainment
centres.
Covering an
area of 40 square kilometres, the city will be situated in the
eastern side of Tripoli.
The new
project would serve all sectors and provide investment
opportunities for Libya in terms of property, construction and
infrastructure.
The project
will be developed by Tameer Holding UAE, Tatweer Property Co
Libya and with support from the Libyan government. |
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According to a press release issue on Thursday, Hill
International, the worldwide construction consulting firm, said
that Birdi Tourism Investments Co. has selected Hill as program
manager for the Bardiyah Development, a multi-billion-dollar
waterfront development program located east of Tobruk, Libya.
The initial 18-month contract for phase one of the program has
an estimated value to Hill of approximately $6.0 million.
The first phase of the project entails master planning and
conceptual design. Birdi plans to develop the shoreline from the
city of Tobruk up to the Libyan/Egyptian border, a distance of
more than 200 kilometers (124 miles).
High-end resorts and entertainment facilities are planned for
the beachfront which includes magnificent bays of the
Mediterranean Sea.
During the first phase, Hill's services will include program
management, management and administration of consultant
contracts, prequalification and evaluation of international
planning firms, schedule control, cost control, quality control
and contract administration.
"Bardiyah will have a tremendously positive impact on the Libyan
economy, especially on tourism," said Raouf S. Ghali, President
of Hill's Project Management Group (International). "We look
forward to participating in this program to make it a success
for our client and for the people of Libya," Ghali added.
Hill
International , the worldwide construction consulting firm,
announced today that it has been awarded a contract by the
Organization for Development and Administrative Centers (ODAC)
to provide project management services in connection with the $2
billion multi-campus expansion of Al Fateh University in
Tripoli, Libya. The 28-month contract has an estimated value to
Hill of approximately $55.9 million.
Founded
in 1957, Al Fateh University is the largest and most respected
institute of higher education in Libya. Expansion of Al Fateh
includes new facilities, extensions to existing facilities and
general infrastructure improvements to support the facilities
upgrade.
Construction is expected to begin in September 2007 and be
completed by September 2009. The
project
comprises approximately 1.66 million square meters (17.9 million
square feet) of new space in 39 buildings.
"Al
Fateh University is undertaking a huge expansion on a tight
schedule,"said Raouf S. Ghali, President of Hill's Project
Management Group (International). "We are proud to have been
selected to help the University expand its capabilities to serve
the students of Libya," Ghali added.
International, with 1,500 employees in 70 offices worldwide,
provides program management, project management, construction
management, and construction claims services. Engineering
News-Record magazine recently ranked Hill as the 10th largest
construction management firm in the United States.
This press release may include certain statements that fall
within the definition of "forward-looking statements" under the
Private Securities Litigation Reform Act of 1995. Any such
statements are subject to risks and uncertainties, overall
economic and market conditions, competitors' and clients'
actions, and weather conditions, which could cause actual
results to differ materially from those anticipated, including
those risks identified in Hill's filings with the Securities and
Exchange Commission. Accordingly, such statements should be
considered in light of these risks.
Any prediction by Hill is only a statement of management's
belief at the time the prediction is made. There can be no
assurance that any prediction once made will continue thereafter
to reflect management's belief, and Hill does not undertake to
update publicly its predictions, whether as a result of new
information, future events or otherwise. |
Benghazi celebrated with laying down the foundation stone to execute 31thousand housing units in Gonfoda, Algwharesh, Alkhadrah and Gmens in this Shabia amidst the grand popular celebrations marking the 38th anniversary of Great Al-Fateh Revolution.
This project cost 4 billion Libyan Dinars. The coordinator of the social people's leadership in Benghazi shabia, the secretary of general people's committee, the secretary and members of the execution of housing projects and facilities body moreover, the secretaries of people's congress and planning council were attended this laying down the foundation stone.
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Boustead Singapore Ltd. (B04.SG) has entered into a $300 million joint-
venture contract to design and build a township in Libya.
23-08-2007
Benghazi celebrated with laying down the foundation stone to
execute 31thousand housing units in Gonfoda, Algwharesh,
Alkhadrah and Gmens in this Shabia amidst the grand popular
celebrations marking the 38th anniversary of Great Al-Fateh
Revolution.
This project cost 4 billion Libyan Dinars. The coordinator of
the social people's leadership in Benghazi shabia, the secretary
of general people's committee, the secretary and members of the
execution of housing projects and facilities body moreover, the
secretaries of people's congress and planning council were
attended this laying down the foundation stone.
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SNC Lavalin Nexacor wins deal to build new Libyan airport
23-08-2007
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 SNC Lavalin Nexacor of Canada on Wednesday won a 400-million Euro (541-million dollar) bid to build an airport in Libya 's Mediterranean city of Benghazi , the official news agency JANA said.
It should take two years to build the airport that will be able to handle five million passengers a year and 45 aircraft an hour, JANA said after Saif Al-Islam, son of Libya’s leader Moamer Gaddafi, inaugurated the project late Tuesday.
Benghazi is 1,000 kilometers (600 miles) east of the capital Tripoli, where Libya said on Monday that work had begun on a new one billion Euro airport which will be able to handle 20 million people a year.
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