French firm gets contract to run Beirut port container terminal
French company CMA CGM has been granted a contract to manage, operate and maintain the container terminal at Beirut’s port for 10 years. The deal between Lebanon’s government and the French company was confirmed on Thursday. CMA CGM said they planned to invest $33 million to renovate the terminal, including new port equipment and building a new storage facility.
This deal is made 18 months after the Beirut Port Explosion where 2,750 tonnes of highly explosive fertilizer that was stored in the port ignited and killed 218 people and injured 6,500. CMA CGM stated that the deal showed their commitment to the reconstruction of Beirut and shows CMA CGM to be a global leader in the terminal industry. The company acquired the Tripoli port’s container terminal in northern Lebanon last year.