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Wednesday, April 20, 2011

Libya: Ground troops coming. Chinese construction and modernization going http://pennyforyourthoughts2.blogspot.com/2011/04/libya-ground-troops-coming-chinese.html

Because China has never imposed economic sanctions on Libya – and in fact the two countries once saw themselves as revolutionary allies, decades ago – Chinese companies were very active across the Libyan economy, from construction projects, to railways, to telecoms.The full extent of that engagement has become clear as the companies involved have pulled out: China Railways Construction Corp, which suspended operations in Libya this week, had been building three rail projects there worth $4.2bn, the company said, of which $3.6bn has not been completed.

Meanwhile China State Engineering Corp has suspended a $2.7bn housing project, leaving it half finished, and is repatriating its workers. China’s largest dam builder, Sinohydro, is doing the same.At least 27 Chinese construction projects have been attacked, according to the Ministry of Commerce. The workers involved in these projects have captured headlines back in China over the last week, as stories of their violent encounters with looters leaked out over the Internet.

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