A giant French shipping company has won a 10-year contract to run the containers terminal at Beirut's port, which was destroyed by a massive blast in 2020, Lebanon's minister of public works and the company said Thursday.
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Minister Ali Hamie told reporters in Beirut that CMA CGM Group, a world leader in shipping and logistics, met all the conditions to manage, operate and maintain the containers terminal, adding that the deal will bring to state coffers "tens of millions of dollars."
The port remains wrecked, although partly functional.
CMA CGM Group said in a statement that operations will begin next month and will last for 10 years, with a target of 1.4 million Twenty Equipment Unit, or 20-foot containers. It added that the deal includes a $33 million investment plan to rebuild and modernize the terminal, including $19 million over the first two years.
