3 Indonesian companies withdraw from Libya

Three Indonesian companies operating in Libya have chosen to withdraw from the country because of prolonged political and security instability there.
“The three companies that have announced their withdrawals are Wijaya Karya, Medco and Pertamina. They are concerned about unfavourable conditions. The workers from Indonesia have also been sent home,” Fachry Thaib, a representative for Indonesia’s Chamber of Commerce and Industry (Kadin) in Middle East, said, as quoted by kompas.com.
Pertamina is Indonesia’s state-owned oil and gas company, while Medco is its private counterpart. Wijaya Karya (Wika) is a state construction company.
He added that the companies would resume operations in Libya when the situation improved.
“They had no choice because the risk would be very great if they continue (to operate),” Fachry said.
Djoko Rianto, representing Wijaya Karya, said his company officially withdrew from Libya on February 20. The company was in the process of constructing what would be the biggest mall in Libya - a project worth US$10 billion. It was targeted for completion in June.
“However, due to a lag in material supplies and unfavourable security conditions, we chose to halt (the project) temporarily,” Djoko said during a discussion between Kadin, the Indonesian trade ministry, and exporters.
Conflicts between protesters and forces loyal to Libyan leader Moammar Khaddafi have been breaking out in various parts of Libya. Libya, one of the many Middle Eastern countries that have experienced turmoil in recent months, has seen unrest since February.
Sources in the discussion also said they were concerned about the potential for the to spread.
Source: asianewsnet

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