A decade after Libya descended into chaos, a host of countries are eyeing potential multi-billion-dollar infrastructure projects in the oil-rich nation if stability is assured.
In the capital Tripoli, dozens of rusted cranes and unfinished buildings dot the seafront, testimony to hundreds of abandoned projects worth billions of dollars launched between 2000 and 2010.
Reconstruction might kick off again with the end of fighting on the outskirts of the capital and the establishment of a unified executive authority in March to lead the transition.
Economist Kamal Mansouri expects Libya’s reconstruction drive to be one of the biggest in the Middle East and North Africa. He estimates “more than $100 billion” are needed to rebuild Libya.
Turkey, Italy and Egypt are tipped to be awarded the lion’s share of reconstruction deals.
Samuel Ramani, an expert on Africa at Oxford University, said that the competition over reconstruction in Libya will be fiercer in comparison to Syria.
Italy aims to defend its commercial interests in the nation with Africa’s largest oil reserves, an energy sector where ENI has been the leading foreign player since 1959.
The firm reportedly proposes building a photovoltaic solar plant in southern Libya.
In June, Spanish Prime Minister Pedro Sanchez also visited with a business team, while Libyan Prime Minister Abdelhamid Dbeibeh has traveled to Paris.
Algeria’s Sonatrach recently announced that it was considering resuming its activities while Tunisian officials have intensified calls to revive cooperation.
Talks between Egypt and Libya were also held. Libya was a key market for Egypt before 2011, especially in the construction field.
