Lebanon Businessnews News

Technological industrial zone slated for Sibline
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The Ministry of Industry (MoI) has launched preliminary studies for the construction of a technological industrial city in Sibline.

The Investment and Development Authority in Lebanon (IDAL) finalized a market study to discover if there is enough potential to launch the project. IDAL studied the region’s ability to access the market, raw materials, and human resources.

IDAL’s results showed that there is large potential for establishing a zone for high-tech industries producing products related to construction such as controllers, and elevator boards, among others.

“Smart buildings are growing as a trend and there is large need for local high-tech industries to meet the demand,” according to IDAL.

The total space of the site is around 600,000 square meters (m2), according to IDAL. The land will be provided by the Municipality of Sibline.

The city will be equipped with the required infrastructure such as roads, power generators, and water treatment systems, and it will be split to several plots. Manufacturers will be building their own production facilities inside the zone.

The cost of equipping the industrial land is $20-$25 per m2, according to MoI estimates. Approximately $15 million will be needed for the project.

The study was submitted to the MoI, which will negotiate with international investors to finance the project.

According to MoI, Chinese investors have previously shown interest in investing in local industrial zones.
Reported by Rania Ghanem
Date Posted: Jun 28, 2019
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