International Investors Unveil Billion-Dollar Plans Underway for Extensive North African Deep-Sea Port in Libya
The Guidry Group has announced its plans to build a new, multi-purpose deep-sea port in Susah, Libya. The Port of Susah is at the nexus of Libya's strategy to spark an era of infrastructure that will position the nation as an economic gateway -- to the benefit of Libya and all of its citizens.
TRIPOLI, Libya, July 17, 2018 /PRNewswire-PRWeb/ -- International investors, The Guidry Group, announced today the architectural designs and in-depth plans behind what will become among North Africa's most modern, highly-automated and largest deep-sea ports in Libya near the city of Susah. Years in the making, The Guidry Group won the billion-dollar multi-purpose "Port of Susah" project in a world-wide solicitation for proposals by Libya's Council of Ministers in 2012 and was selected from among a competitive field of nine international firms in 2015. The Port of Susah will help improve the human condition, breathe vital economic life into the region, and position Libya as a major economic center for trade and commerce upon completion in 2022.
"The Port of Susah is the culmination of years of thoughtful and continuous planning with the Libyan government, local officials and external market forces across the globe," said Michael Guidry, founder and CEO of The Guidry Group. "We have been impressed with the government's commitment and hard work in collaborating with our team, meeting deadlines and advancing the expansive project."
"Ultimately, our united goal is not only to stimulate trade and commerce, but to unite Libyans behind one common objective - recovery and infrastructure redevelopment in the war-torn nation to the benefit of all people," emphasized Guidry.
Era of Infrastructure:
The government of Libya, in its efforts to modernize and expand the country's critical transportation infrastructure, is developing the Port of Susah. This major international trans-shipment hub container port is central to the government's both intermediate and long-term plans to launch an era of infrastructure improvements. These wide-ranging improvements include essential world-class regional cargo-handling facilities, improved road networks, expansion of business development within the country, and significant benefit in macroeconomic terms.
Employment Opportunities:
The Port of Susah project will help create numerous opportunities for the employment of thousands of Libyan nationals in a productive and technologically modern cargo-handling facility with further expansion into additional industries in the future. One of the key goals of the project is to maximize the participation of the local labor force, as well as the transfer of management knowhow and expertise towards the development and implementation of this critically important project for the Libyan economy. The project development team is also expected to include a wide-range of local professionals.
Importantly, the operator of the cargo complex will invest in significant training facilities, including simulators and virtual classrooms to ensure that local nationals are a major source of personnel for the project. This development will provide significant economic benefits to the people of Libya and position the country as a recognized international cargo hub.
Demand and Revenues:
When completed, the Port of Susah will be a crossroads in North Africa for mainline cargo vessels traveling to and from Asia and Europe via the Suez Canal, and to and from the United States. In addition, the port will handle vessels moving cargo between various ports within the Mediterranean and the Port of Susah. A critical element of the related strategy is to attract a top-tier, world-class global container port operator with a view to join the team as project sponsor, investor and operator.
In 2022, the first year the Port of Susah is fully operational, revenues are anticipated to be around $60 million and by the year 2040 annual revenues are expected to double to $120 million. These estimates are based on the port being able to handle around half a million Twenty Equivalent Units, known as TEUs, in the first year of operations, which will be Phase 1 of the project, increasing an anticipated three-fold 25 years later in Phase 2 and 3. These projected revenues are reasonably conservative, excluding additional revenues from handling general and bulk cargo and/or revenues from the integrated logistics and freight facility.
Awards:
Although the details remained private and confidential until today's public announcement, it is important to note that the Susah port project was named among the "Top 100 Global Infrastructure Projects of the Year" at the 11th Global Infrastructure Forum held in Montreal, Canada, earlier this year and was a finalist for "Project of the Year."
The Guidry Group is advised by ADN Capital Ventures, Inc. an international project finance advisory firm.
About The Guidry Group
Founded in 1985, The Guidry Group is a global leader in kidnap and ransom resolution, security services, and crisis response and management with experience in 148 countries. The company's services also include specialized skills training in its areas of expertise, business pathfinding, and specialty insurance for kidnap and ransom, cyber, data breach, identity theft and more. In recent years, The Guidry Group has also become increasingly focused on the development of critical infrastructure, including large-scale projects to help revive war-torn countries by assisting them with rebuilding their economies and communities. To learn more, please visit http://www.guidry.com.
SOURCE The Guidry Group
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