www.libyanet.com Italian real estate services company Norman 95 has won a 300-million-euro (384-million-dollar) contract to develop a luxury holiday resort on the Libyan coast, officials said.
The development -- to include two five-star hotels, four four-star hotels, a golf course and a marina -- will take 44 months to build and create 700 jobs in recession-hit Libya, an official source said.
The complex will sprawl across a 471-hectare (1,164-acre) site on Farwa, an island some 110 kilometres (70 miles) west of Tripoli, and on the mainland opposite.
An oasis equipped with 70 tents kitted with every modern convenience and "floating" villas on the water, will also be created.
Italy is Libya's main trading partner and Norman 95 is the second Italian company to win a high-profile business contract since last year.
Fantasia netted a 35-million-euro contract in 2004 to build a tourist complex in Al-Khums, 120 kilometres east of Tripoli on the Mediterranean coast. Milan-based Norman 95 confirmed it was going ahead with the tourist complex, but gave no further details. |