Libya signs $1b tourism deal with Dutch firm

TRIPOLI - The Libyan tourism ministry signed a one billion euro ($1.23 billion) agreement with Dutch leisure firm El Dorado yesterday to build 10 tourism complexes, including hotels, in eastern Libya, government officials said.


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Published: Fri 9 Apr 2004, 12:45 PM

Last updated: Thu 2 Apr 2015, 11:35 AM

"The accord was signed yesterday in Tripoli with El Dorado from the Netherlands to build hotels and other leisure facilities in 10 sites in the coastal city of Al Boutmane over five years from now," a senior government official said.

He and other officials said the accord was worth one billion euros. They did not provide details about El Dorado.

Al Boutmane lies about 1,700 km east of Tripoli.

Officials said the deal value was the largest since last December when Libyan Leader Muammar Gaddafi pledged to scrap Libya's weapons of mass destruction programmes, prompting a thaw with the United States and an improvement in relations with other Western states.

Visits by British Prime Minister Tony Blair and U.S. Assistant Secretary of State William Burns last month were the culmination of a lengthy process to improve ties with the West.

Government officials and ordinary Libyans hope for a steady flow of investment will come as a result of normalisation with the West.

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