Cengiz sues Libya for its Gaddafi-term claims
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.