Lebanon Businessnews News

Saida industrial city planned
by its Chamber of Commerce
800,000 square meters with
low rental fees for industrialists
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The Chamber of Commerce, Industry, and Agriculture in Saida and South Lebanon will establish an industrial city around Baysariye in the South.

The concerned municipalities and the Government will provide the 800,000 square meter plot of land for free to build the city.

The chamber will refer the application to the concerned ministries: Interior and Municipalities, Industry, Finance, and Public Works & Transportation, to obtain their approvals.

The chamber will search for the funding sources to equip the city with the infrastructure. Mohammad Saleh, Chairman of the Chamber, said that they will negotiate with investors and international donors for funding.

Investment in the project will exceed $10 million. Saleh said that it will be constructed in several phases, with the first phase consisting of 200,000 m2.

The city will be equipped with power stations with high voltage capacity, water resources, a sewage system, water channels, support walls, a solid waste treatment system, and paved roads. It will also include green areas.
Industrialists will have the option to lease the plots of land for a minimum of 35 years at very low rental fees, for the exclusive purpose of building factories. “The objective of establishing this industrial city is to support industrial investors and to give them incentives,” said Saleh.

The industrial zone will accept factories that do not cause gas emissions and noise pollution, such as food industries, paper, and furniture, among others.
Reported by Rania Ghanem
Date Posted: May 12, 2015
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