The Ministry of Transportation of the Government of National Unity announced on Saturday the end of the negotiations phase with an Italian company, whose name was not mentioned, to implement two parts of the fourth section of the “Emssaed - Ras Ajdair” coastal road, which "connects eastern and western Libya."

The ministry said that the negotiating team for the implementation and management agency of the road completed the negotiation period with one of the Italian companies that submitted its offer to implement the two parts of the fourth section of the road.

The statement explained that the negotiating team succeeded in reducing the prices submitted by the company by more than 300 million euros, and that the Minister of Transportation will request permission from the Prime Minister to sign the contract. The ministry did not clarify the total cost of the deal.

Italy has previously pledged to provide financial coverage for the implementation of the Emssaed - Ras Ajdair coastal road project (worth $5 billion), according to what the road implementation and management agency announced.