GE could make $10bn revenue from Libya

General Electric, the biggest maker of power-generation equipment, expects to generate as much as US$10bn in revenue from Libya, as the country vies to rebuild its economy, infrastructure, and institutions, and respond to the demands of its population, the company’s regional President and CEO Nabil Habayeb said in an interview with Arabian Business.

“The needs of states need to be addressed” and are “magnified after the Arab Spring”, Habayeb said. “There is the wealth in a lot of countries to be able to support meeting those needs; the challenge is for countries that don’t have the same wealth from the petrodollars.”

In LibyaFairfield, Connecticut-based GE sees a large market for all of its business segments and has been in talks with the provisional government.

“The country needs everything, development of oil and gas, which will create the wealth to improve the life of people, clean water, reliable power, a good healthcare system, building the transportation system both rail as well as the aviation system so that you can get the economy going – all of these things are areas of focus for us in Libya, like we did in Iraq,’’ Habayeb said.

(Source: Tripoli Post)

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