Protasco to be 'Operational' in Weeks

Malaysia-based Protasco Bhd, a mid-sized integrated infrastructure company, is returning to Libya and will be operational later this month to complete outstanding projects valued at US$20 million.

Protasco executive chairman and group MD Chong Ket Pen (pictured) said:

The Libya government is being very supportive towards us. We have written off [$6 million] in provision in the past two years for our halted operations in Libya. Our machineries are still there.

Protasco ceased operations in Libya in 2011 due to the revolution, but recently announced its return to the country.

(Source: The Malaysian Reserve)

No comments yet.

Leave a Reply