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A memorandum of understanding (MoU) was signed between Libya’s Airports Authority and two foreign companies to finance the new Tripoli Airport project. The MoU was signed by the Libyan Airports Authority with the Turkish company Terminal Yapı and the UK-registered ERG International. The Tripoli-based Ministry of Transport reported that the two companies submitted a proposal to form a joint venture between them to finance the new Tripoli Airport project, based on their extensive experience in the field of investment in airports.
The MoU aims to establish and determine the technical and financial foundations that will be agreed upon between the parties to move forward with the signing of a final contract for the investment project. This, it added, will include financing infrastructure projects rehabilitating the airport and operating it in a way that ensures the development and improvement of the services provided by it and meets the standards and requirements stipulated by the International Civil Aviation Organization (ICAO).
The Transport Ministry said that despite the challenges facing the air transport sector in Libya at present, signing this memorandum and proceeding with the implementation of the project is considered an important step towards strengthening international cooperation, attracting foreign investments, the return of international airlines to resume their flights to and from Libya, and achieving sustainable development in the aviation sector in the country.
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It is expected that this strategic cooperation with the coalition of the two companies will achieve positive results, as it will contribute to alleviating the burden on the state by financing the project from outside the general budget. It will also contribute to the localization of modern technologies and the transfer of knowledge and experience in the field of civil aviation.
