Eastern Libya, U.S. firm close to signing Libya port deal
July 2019 – TUNIS/BENGHAZI, Libya (Reuters) – Eastern Libyan authorities and U.S. security firm Guidry Group plan to finalize an agreement to develop a major port in the east of the troubled oil producer, both sides 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. Most of the country has been in chaos since the toppling of Muammar Gaddafi in 2011.
“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.
Salah Elhasi, head of the eastern port authority, said no final deal had been signed yet but 90 percent of work was done.
“We are in the final stage of the agreement. …and are reviewing the agreement’s details,” he said.
Neither side gave details. In February, both had put the investment volume of the project at $1.5 billion.