Libyan parallel government in the east to finalise major port deal with US firm
Authorities in eastern Libya and US security firm Guidry Group are preparing to finalize an agreement to develop a major port in the eastern region, both sides told Reuters.
“The Guidry Group and the State of Libya through the Sea Port Authority officially signed the concession agreement on May 13 for the development of a multi-purpose, deep sea port in Susah, Libya,” the Guidry Group said in a statement to Reuters.
“Next steps for the project will involve establishing all the technical, financial, operational and commercial requirements,” the firm said.
Talks have been going on for about a year to build a port in Susah, which would mark a rare sign of investment in Libya.
The Chairman of the eastern port authority, Saleh Al-Hassi said no final deal had been signed yet but 90 percent of work was done.
He told Reuters that they are in the final stage of the agreement and are reviewing the agreement’s details.
In February, the US firm and Libyan east-based authorities put the investment volume of the project at $1.5 billion.
Reuters said a final signature would be a coup for the parallel government in charge of eastern Libya which has not gained international recognition.
The Susah port is supposed to be the main entry port for goods into Libya as a sea depth of up to 40 meters (130 feet) would enable containers to load goods on smaller vessels headed for other cities, Reuters said.