Tripoli Economic Zone awaits funding, port getting ready for Syria reconstruction

Economic circles are becoming increasingly involved with the expansion and development of Tripoli’s port and the special economic zone (SEZ) in preparation for the forthcoming reconstruction boom in neighboring war-torn Syria. On the subject, SEZ chairperson, Raya Hassan, pointed out on Tuesday that preparation works for establishing the special zone have largely progressed and are expected to be completed within the coming two months. Yet, Hassan who was speaking during a meeting with a delegation of the World Bank to discuss updating the Zone’s economic feasibility plan, added that funding of infrastructure work still needs to be secured from various sources, including the private sector, Arab and international institutions or alternatively from the Lebanese government. On his part, the head of the Gulftainer Company which provides container shipping lines in the Port of Tripoli, Antoine Amaturi, underscored the need to start work in SEZ so that it is fully prepared to play a role in the reconstruction of war-torn Syria and Iraq. 

On a related note, the Port de Tripoli director, Ahmad Tamer, maintained that the nature formed harbor which is undergoing expansion works, has made a quantum leap in January posting a record in income, the first since its inception in the fifties of the past Century. Revenues have reached nearly LBP 3 billion and LBP 13 million (USD 2 million), he said. Moreover, the port has become a focal point of attraction for many regional and global companies, Tamer boasted, adding that these companies, believe the port will serve as an intersection point on the Silk Road between East Asia and Europe. On the development works, Tamer disclosed they will continue for three years with funding from the Islamic Bank for Development and a USD 86 million worth loan. Citing an international maritime economic and transport expert, Tamer noted that the global bodies involved in the development of cargo shipping lines between China, India and East Asia to Europe and vice versa, and as part of the New Silk Road, now consider the Port de Tripoli as a central hub for servicing this new global road. (Al Mustaqbal, Al Diyar, February 1 and 2, 2017)