Middle East Economic Survey

VOL. LIII

No 41

11-Oct-2010

LIBYA

Hyundai Secures Libya Power Plant Deal

South Koreas Hyundai Engineering and Construction has reportedly finalized a $1.36bn deal to build a power plant in Libya following the restoration of ties between the two countries. Hyundai won the contract in June but had not yet received a letter of credit necessary to commence construction when diplomatic relations broke down. Construction is now expected to begin in November, after...