LIBYA. A multi-million redevelopment of Tripoli International Airport is getting ready for take-off following the Libyan Local Investment & Development Fund’s (LLIDF) appointment of PwC as its strategic advisor.
The LLIDF is supporting the redevelopment of Libya through its new Investment Programme which includes the redevelopment of Tripoli International Airport into a world-class international airport.
Based within a secure hub on the former airport site, the ambition is to cater for over five million passengers per annum, attract a multitude of new airline partners, and act as a catalyst for major commercial and corporate developments nearby.
In addition to being appointed to advise on the redevelopment of the airport, PwC’s infrastructure team in the UK and Middle East has also been brought on board to act as advisors for two separate feasibility studies on new specialised hospitals and solar energy developments.
Focussed on establishing an integrated network of specialised hospitals, providing health services to high risk communities across Libya, the programme aims to reduce the country’s reliance on overseas healthcare support in the longer term.
The environmentally friendly solar photovoltaic energy project in Hoon, southwest Libya, intends to support Libya’s energy needs by delivering in the region of 100 MWp of generation capacity in line with expected demands.
The agreement, signed in London by Bader Ben-Othman, CEO of LLIDF, and PwC partners, Ian Baxter, Michael Burns, Ahmed Baitelmal and Bernhard Haider, marks an important milestone in the development of Libya’s economy.
Mr. Bader Ben-Othman said: “We are delighted to team up again with PwC as our advisors for three strategic projects; namely the redevelopment of Tripoli International Airport alongside development of an integrated network of specialised hospitals and a solar energy project.
These projects are absolutely critical for Libya’s needs in terms of stabilisation, socio-economic benefits and the alleviation of hardship.”
Ian Baxter, PwC infrastructure partner, added: “We recognise that these are three critical projects for LLIDF and Libya as a whole. While the airport will open up trade routes further, the delivery of specialised hospitals, providing services including oncology, neurology, rehabilitation and cardiology, will help improve clinical service and patient care standards.
“We are delighted to continue our work with the LLIDF and look forward to using our local and global sector knowledge and PPP expertise to support this crucial work rebuilding the Libyan economy and infrastructure.”
Leading the airport advisory project will be Michael Burns, PwC partner based in London. The healthcare feasibility study will be led by London-based PwC partner, Ian Baxter, with the solar feasibility analysis led by Bernhard Haider, a PwC partner based in Egypt. Local PwC Libyan support to all three feasibility studies will be led by Dr Ahmed Baitelmal.
Photo Caption: Ian Baxter, PwC infrastructure partner
About Libyan Local Investment & Development Fund (LLIDF)
As one of the largest investment funds in Libya, LLIDF is responsible for driving socio-economic development through investments in key infrastructure and industry sectors throughout the country.
LLIDF will act as a catalyst in the quest for diversifying and transforming Libya’s economy and developing its private sector to generate sustainable financial returns and positive socio-economic impacts. The fund aims to develop Libya’s infrastructure, transforming existing non-oil & gas industries and creating new industries in partnership with best-in-class international organisations.
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