US, Greek companies to build Susah port in Libya worth $1.5 billion

US, Greek companies to build Susah port in Libya worth $1.5 billion

December 08, 2021 - 21:43
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Written By: AbdulkaderAssad

US-based Guidry Group has signed with Greek port construction company Archirodon Construction a Master Agreement for the design and construction of the $1.5 billion Susah Secure Port in Libya.

The group said on its website that the Susah Secure Port, conceived as a multi-use port, will be the deepest water port in Libya; the first [PPP] port project to be undertaken in Libya; the first port to be built to a globally competitive and efficient standard; and the largest port infrastructure investment by a US company in Libya’s history.

The group added that the Susah Secure Port project is critical to the rebuilding of Libya and was recently endorsed by the Libyan Government of National Unity.

"It will provide a secure means of trade for international companies and governments and become a centre for economic development for Libya. The US private sector is very welcome in Libya. There is an expectation for greater US involvement in the development of Libya with the Susah Secure Port being the a first step in the right direction." The group said.

"In eastern Libya lies the major Port of Susah, located at about 240 Km east of Benghazi. The seaport in Susah serves as the main artery and entry port for goods into Libya by sea. A natural self-dredging port with a sea depth of 18 meters, the proposed newly developed Port of Susah will enable ships to offload their containers of goods with ease. The $1.5 billion port will be constructed in four-phases. The total development cost projection of the first phase of the project is approximately US$200M. It will primarily focus on container handling, grain handling and other bulk cargoes, general cargo and as a logistics base. The Susah Secure Port is critical to enable the Libyan economy to restart." The group explained.

The Chairman of Ports and Maritime Transport Authority in Libya, Captain Hassan Gwile, said Libya has had a dream since 2007 and it is now witnessing it really happen.

"We have a plan to develop a port in Susah that will be unprecedented and to the highest level of modern technology and functionality. We welcome the involvement of the US private sector in Libya and it can and should play a unifying role. We have signed a concession agreement with The Guidry Group. Mr. Guidry is an investor from the USA who believes in the future of Libya and its people. The development of the Susah Port will mark a milestone, not only in the Libyan economy, but in Libyan history, culture and mentality." He added.

The CEO of Guidry Group, Michael Guidry, said: "Together with our strategic partner Archirodon Construction, we now also move to commence and complete negotiations with a leading international port operator that will be appointed to operate the Susah Secure Port Project.”

While the CEO of Archirodon, Denis Karapiperis said: “This is a major announcement for our company but more importantly, we think, for Libya. The Susah Secure Port project will provide a focus for economic development in the country and we are proud to be playing our part, along with the Guidry Group. Our involvement in developing port infrastructure in Libya, North Africa and the Middle East is long established and today adds another chapter to that story.”