The leading French shipping company CMA CGM has announced a plan to rebuild the Port of Beirut after its destruction during the August 4th blast.
The company, which is owned by the French-Lebanese Saade family, first outlined to the Lebanese authorities the plan to rebuild the devastated port’s damaged docks and warehouses back in September 2020.
The project, CMA CGM Lebanon has estimated, would cost between $400 million and $600 million, including expanding and digitalizing the port.
The transport giant, which has been active in helping restore the port since the explosion rocked the Lebanese capital in August, has indicated that the project would take 3 years to complete.
CMA CGM Lebanon was not immediately available for comment. However, its General Manager, Joe Dakkak, recently told Reuters that the offer “remains on the table.”
“Our project is a realistic one because the situation is urgent,” he added.
Earlier this month, German firms presented a multi-billion-dollar proposal to redevelop the port and the neighboring districts that were severely damaged during the deadly blast. That proposal would require an investment of over $7 billion.
In a similar but much less costly initiative, Lebanese contractors presented their own plan to develop the port on Tuesday.
Other entities, including China- and UAE-based companies, have reportedly been considering working on the port’s reconstruction.
However, in order for any of these plans to be implemented, Lebanon would need an active government, which the country has lacked since the last cabinet, headed by caretaker Prime Minister Hassan Diab, resigned following the explosion.