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Gaddafi-era contracts to be honoured in Libya

The UK representative for Libya’s National Transitional Council said today that engineering contracts let under the Gaddafi regime would be honoured under the new government, as long as no corruption was involved.

Guma El Gamaty told the Libya: The Future conference this morning in London that a national body will be set up to assess contracts and streamline rebuilding work.

“They must be open, transparent and best for the Libyan people,” he said.

He said hundreds of billions of pounds would be needed in the next five to 10 years to rebuild the country and create a new economy not totally reliant on oil.

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