French containership and terminals group CMA CGM is planning to reconstruct Lebanon's blast-hit port of Beirut over the next three years.

A scheme costing between $400m and $600m is being considered despite political deadlock in the country that has hindered decisions on the work.

The port was torn apart by an explosion of chemicals in August 2020 that killed 200 people.

The shipowner's plan was first outlined to the government in September, CMA CGM's general manager Joe Dakkak, told Reuters.

Docks and warehouses will be rebuilt, and expansion and digitalisation initiatives started, he added.

Situation urgent

"Our offer remains on the table," Dakkak said. "Our project is a realistic one because the situation is urgent."

There is a rival plan involving a German consortium running to billions of dollars, but this work includes rebuilding neighbouring districts that were also destroyed.

Dakkak said the German scheme was more focused on longer-term property development.

CMA CGM would be willing to contribute to the port part of that project if invited to, he added.

The French shipowner has a particular interest in Lebanon, as founder Jacques Saade was born in Beirut. The group joined in relief efforts at the port last summer.

Lebanese state involved

Dakkak said the French government is not part of CMA CGM's reconstruction plan.

Other French companies and financial institutions had shown interest, he added, with the Lebanese state set to have a role through a public-private partnership.

Waiting time for vessels has doubled in Beirut since the explosion. CMA CGM is the leading operator there, accounting for 60% of volumes.

A new tender to run the container terminal there will be launched in two weeks. CMA CGM is going up against Swiss rival Mediterranean Shipping Co for the concession.