A container shipping company and German consortium have floated plans to rebuild the Port of Beirut following chemical explosions which destroyed a large part of it last year.
CMA CGM aims to rebuild the port within a three-year timeframe, according to Reuters. The ammonium nitrate explosions on 4 August 2020 resulted in the deaths of at least 200 people and left 6000 injured.
CMA CGM’s plan was first outlined to Lebanese authorities in September and comprises the reconstruction of damaged docks and warehouses, along with port expansion and digitalisation, at an estimated total cost of $400-600m, said Joe Dakkak, general manager CMA CGM Lebanon.
“Our offer remains on the table,” he told Reuters. “Our project is a realistic one because the situation is urgent.”
In November 2020, Hamburg Port Consulting (HPC) and Roland Berger began a redevelopment study. Now a consortium including HPC and Colliers Germany has also announced a US$7.2bn investment proposal to rebuild the port and surrounding area.
Mr. Dakkak said the German initiative was more focused on longer-term real-estate development but CMA CGM would be willing to contribute to the port part of that project if invited to.