The Libyan-Italian committee has agreed to allocate 571 million euros to complete contracting procedures for the Imsaad-Ras Ajdir Road project, the Implementation and Management Authority of the project has confirmed.
According to the Authority, the contract covers the first and fourth sectors, including (Imsaad-Al Marj) and (Misrata-Ras Ajdir) routes.
The committee emphasized the need for Italian financial coverage for the project, amounting to 5 billion dollars as stipulated in the 2008 Libyan-Italian Friendship Treaty.
Meetings have been scheduled for coordination between the two sides in line with decisions to exempt the project from taxes.
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