US investment in strategic Libyan port
US-based The Guidry Group and international contractor, Archirodon Construction, have signed a deal for the design and build of the Susah Secure Port in Libya which, it is hoped, will bring stability and prosperity to the region.
When built the US$1.5 billion multi-use port will be the deepest in Libya, providing a secure means of trade and becoming a centre for economic development for Libya. The project is the first PPP port project to be undertaken in the country and the largest port infrastructure investment by a US company in Libya’s history with an expectation of greater involvement in the future development of the country.
“Being a deep seaport, the opportunity for having a transhipment hub in Libya will help economic development and position Libya in the international shipping market,” said Wisam Edrisi, Deputy Minister of Transportation for Seaports & Maritime in The Government of National Unity of Libya.
“The NUG-focus is on investment, especially in seaports and other infrastructure, and on inviting international companies to participate in different projects,” he added.
The Port of Susah lies in eastern Libya, about 240km east of Benghazi. A natural self-dredging port with a depth of 18 metres, it serves as the main artery and entry port for goods into Libya by sea.
Construction will be in four phases with the total cost of the first phase projected to be around US$200M. It will primarily focus on container handling, grain handling and other bulk cargoes, general cargo and as a logistics base.
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