Finance News

Michael Guidry to Invest in a $1 Billion Deep-Sea Port in Libya

Texas-based American investor and entrepreneur Michael Guidry has plans to invest in North Africa with a $1 billion deep-sea port based in Susah, Libya. When completed, annual revenues for the "Port of Susah" are expected to reach $120 million by the year 2040 -- doubling from an anticipated $60 million in 2022, which is the first year the port will be fully operational.

michael guidryMichael Guidry, The Guidry Group

“The Port of Susah is at the epicenter of plans to launch a new economic era for Libya and the region,” emphasizes Michael Guidry, founder and CEO of The Guidry Group.

The details behind the anticipated revenues include:

  • Port of Susah revenue 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;
  • TEUs are anticipated to increase three-fold 25 years later in Phase 2 and 3; and
  • Projected revenues are reasonably conservative, excluding additional revenues from handling general and bulk cargo and/or revenues from the integrated logistics and freight facility.

In a world-wide solicitation for proposals by Libya’s Council of Ministers in 2012, Michael Guidry's The Guidry Group won the billion-dollar multi-purpose Port of Susah project and was selected from among a competitive field of nine international firms in 2015.

Importantly, the Port of Susah project was named among the Top 100 Global Infrastructure Projects of the Year at the 11th Global Infrastructure Forum held in Montreal, Canada, this year and was a finalist for Project of the Year.

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