Azeri construction firm wins Libyan tender
The Azerbaijani Azertunnel company, whose domestic
orders are dwindling, has won a tender from the Libyan government
for the construction of a residential complex. However, the company
is unable to launch the operations, though it has been formally
announced the winner.
Azizagha Huseynov, head of Azertunnel, has told the Baku-based ANS TV channel that work on the project is being delayed because the Libyan government is not accepting a letter from Azeri banks providing financial guarantees. Azertunnel has appealed to the Economic Development Ministry for assistance, but as yet to no avail.
According to Huseynov, if the Libyan side`s terms are met, his company will carry out building valued at $150 million.
In addition to its undertakings in Libya, Azertunnel has joined a tender on building oil and gas pipelines in Algeria.
"We have passed through the initial stage of the tender and are very close to winning. Work valued at $1 billion is involved here," Huseynov said, adding, however, that the company might face challenges with the tender procedure if it does not succeed in obtaining a bank warranty.
Azertunnel, which is mainly engaged in building ports, bridges, residential and office buildings, intends to join tenders to operate in Qatar and Iran in the future.
Azizagha Huseynov, head of Azertunnel, has told the Baku-based ANS TV channel that work on the project is being delayed because the Libyan government is not accepting a letter from Azeri banks providing financial guarantees. Azertunnel has appealed to the Economic Development Ministry for assistance, but as yet to no avail.
According to Huseynov, if the Libyan side`s terms are met, his company will carry out building valued at $150 million.
In addition to its undertakings in Libya, Azertunnel has joined a tender on building oil and gas pipelines in Algeria.
"We have passed through the initial stage of the tender and are very close to winning. Work valued at $1 billion is involved here," Huseynov said, adding, however, that the company might face challenges with the tender procedure if it does not succeed in obtaining a bank warranty.
Azertunnel, which is mainly engaged in building ports, bridges, residential and office buildings, intends to join tenders to operate in Qatar and Iran in the future.
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