in South and Jbeil
Financed by the Islamic Development Bank
The Council of Ministers has approved two road projects financed by loans from the Islamic Development Bank (IDB), for a combined value of $50 million.
The first project is for the completion of the South coastal highway. Overseen by the Council for Development and Reconstruction (CDR), the final phase of the coastal road will link Burj Rahhal to Abasiyeh. The construction of the three-kilometer road will cost over $30 million, to be provided by the IDB and Treasury advance.
The construction of the road will save citizens a 40-minute drive, passing through Jannata, Arzoun, and Tair Filsay. A previous phase of the coastal road, connecting Abbasiyeh to Burj el Shemali is being handled by Consolidated Engineering and Trading (CET). The completed parts are Zahrani-Bablieh, Bablieh-Abou el Aswad, Tyr-Naqkoura, and Saida seafront.
The second project will be funded by a $21 million loan agreement, also by the IDB. It will consist of a road development between Bir al Hait and Qartaba.
The two loans still need Parliament’s approval.
Reported by Yassmine Alieh
Date Posted: Feb 17, 2016