Noor delays Cedar Island project
News - April 27, 2009
MEED reports that construction work on the US$8.2 billion man-made Cedar Island project in the Lebannon will be delayed until after the country holds its parliamentary elections on 7 June.
In February, the project's Beirut-based developer, Noor International Holding, told MEED it had asked the government to allow it to start work on the project by the end of May to prevent the election causing delays.
However, it under-estimated how long it would take for such an ambitious project to receive the necessary government approval.
Said MEED: "If the new government gives its approval for Cedar island, Noor will prepare documents for the first-phase construction works, which involve land filling that is expected to take 15-18 months to complete."
"We are still waiting for permits from the authorities, so everything is on hold," a a spokesman for Noor told MEED. "Hopefully we can move after the elections before the summer vacation starts."
MEED also reported that Noor has prequalified up to eight international contractors for the work. A second phase will cover general civil works and construction of the island.
The island is planned for a site to the south of Beirut. It will be shaped like a cedar tree, but the design will not be finalised until the government grants the licence for its development.
According to Noor, the island will take four years to build and will accommodate a residential population of 40,000.The island is the most prominent of many projects currently awaiting government approval.
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