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German companies offered a plan to reconstruct the Beirut port, said Lebanese Minister Najjar

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BEIRUT, 10 April, 2021 (TON): For the reconstruction of the Beirut's port that was damaged following the August 2020 twin blasts, the German companies have offered a project worth $5 billion to $15 billion, said Michel Najjar Lebanese Public Works and Transportation Minister.

The project expected to create 15,000 jobs, will create a commercial and tourist hub valued at $2.5 billion and secure revenues of millions of dollars for the government, he said on Friday.

The Lebanese German Business Council held a press conference on Friday in Beirut, where representatives of the German companies were given an overview of the project.

German Ambassador to Lebanon Andreas Kindl said that this initiative represents a serious approach to developing the port of Beirut and the surrounding area.

However, the minister elaborated that the project will be based on a contract whereby private companies would finance the port's reconstruction and operate it for two or three decades before the government regains control.

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