CMA CGM invests US$100 million in Beirut container terminal expansion

CMA CGM is set to invest US$100 million in the expansion of the container terminal at the Port of Beirut, according to Lebanese media reports. The project officially moved forward on 10 September with the laying of the foundation stone at the Lebanese port. Lebanese Prime Minister Nawaf Salam, CMA CGM Chairman and CEO Rodolphe Saadé and Port of Beirut Chairman and Director General Marwan Naffi attended the ceremony. According to L’Orient Today , CMA CGM will provide US$100 million to finance the expansion of the container terminal. Terminal capacity set to more than double Speaking at the ceremony, Naffi said the development represents the third and largest expansion phase in the terminal’s history.