CMA Terminals, a fully-owned subsidiary of the CMA CGM Group, will manage and operate the Port of Beirut’s container terminal in Lebanon for the next 10 years.
The French port and terminal operator has been chosen following a bidding process and the 10-year period will start next month.
“Operations will begin in March 2022 and will last for 10 years, with a target of 1.4 million TEU,” pointed out CMA CGM in its announcement.
CMA Terminals has announced a US$33 million investment plan to renovate and modernise the terminal, including a complete infrastructure upgrade with refurbishment, replacement, and acquisition of new port equipment, the construction of a new technical facility for maintenance and spare parts storage, a digital transformation of the terminal by the implementation of new management, optimisation and interconnection systems and environmental performance improvements through the purchase of greener and eco-friendly equipment.
The Marseille-based shipping firm said it aims to invest the first US$19 million over the first two years.
The CMA CGM Group, which already has a strong presence in Lebanon, currently accounts for almost 55% of the container terminal’s volumes, since it has maintained its nine weekly calls and transshipment operations there.
This agreement follows the full acquisition of the box terminal inside Tripoli port back in 2021 by CMA CGM Group, which shows the French company’s will of strengthening its presence at Lebanon’s ports.
