Cengiz sues Libya for its Gaddafi-term claims

Dünya Executive - - OVERVIEW -

It has been eight years since the Arab

Spring swept through the streets of the Middle East and North Africa, leading to civil wars and turmoil that still roils the reg on. The incidents that began in 2010 and peaked in 2011 ended many political careers. One of them was Muammar Gaddaf . He was killed in 2012 and his country was swept into chaos that still haunts it today. Despite Gaddaf ’s death, there are still many ongoing issues rooted in his term, particular­ly Turkish contractor­s that have huge claims from his Libya. Several have isued for their receivable­s but none was able to win them. The only winner was Cengiz Insaat of Mehmet

Cengiz, according to Kerim Ulker in his column in daily Dunya.

Cengiz Insaat is one of the newly-emerging contractor­s in Turkey. It had two projects in the Gaddafiera. One of them was building the infrastruc­ture for Ubar province that was tendered by the Vadi al Haya municipali­ty. And the other was the infrastruc­ture and constructi­on works of Sebha province in the south of Libya.

Cengiz Insaat isued the country, claiming that it had incurred losses from the project. The company was building roads and a dam in the southern province. It submitted a complaint in the Paris-based Internatio­nal Chamber of Commerce. A verdict was given recently after three years. The court decided that Libya should pay compensati­on to Cengiz Insaat of 50 million euros, or approximat­ely TRY 305 million. The decision is seen as an important step for other Turkish contractor­s that have incurred billions of dollars in losses in Libya. It is now harder to win tenders in Libya. However, the decision is significan­t to close the old books.

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