Lebanon Businessnews News

Parliament ratifies Tripoli Port development agreement
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Parliament has approved an $86 million finance agreement with the Islamic Development Bank for the development of Port of Tripoli (PoT).

The funds will be used to upgrade the port’s infrastructure, which includes four kilometers of roads that connect the port with surrounding facilities, as well as a 70,000 square meters parking space for 230 trucks.

Networks for water, fire suppression, wastewater collection, rainwater, irrigation, electricity, and telecom will also be developed.

“This is a historic achievement that will turn the port into a smart and developed logistical facility,” said Public Works Minister Youssef Fenianos.

The agreement also covers the financing of the port’s buildings, which consist of administrative offices, the Customs and Army building, and warehouses.

Representatives of the Directorate General of Public Transport, PoT Authority, Council for Development and Reconstruction, and Dar Al Handasah (Shair & Partners) will meet this week to review the terms of reference for projects covered by the agreement.
Reported by Yassmine Alieh
Date Posted: Nov 13, 2018
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