Engineer unsure when infrastructure project will re-start
锘縀ngineer Aecom鈥檚 evacuation of expatriate staff and their families from strife-torn Libya will cost it 拢10m, the consulting giant has said.
The firm said the evacuation - completed this week - and subsequent loss of revenues, will hit company profits for the second quarter by eight cents a share. However, it said profit for the year should be unchanged at $2.25 (拢1.38) to $2.35 a share due to continued strength in the remainder of the company鈥檚 business.
Aecom has been programme manager for the Libya Housing and Infrastructure Board鈥檚 plan to modernise Libya鈥檚 infrastructure.
The firm said in a statement: 鈥淒ue to the uncertainty in Libya, the company cannot determine when the project will be restarted.鈥
A source inside Aecom said they believed there were hundreds of employees working in Libya before the unrest, although the company was unable to confirm this.
The uprising against Colonel Gaddafi has all but shut down construction on the country鈥檚 拢36bn investment plan to 2012, and all UK firms鈥 offices were reported closed.
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