French container shipping group CMA CGM is implementing a plan to rebuild the port of Beirut within three years, despite a political stalemate in Lebanon that has hampered decisions on the port following an explosion last August, a company executive told Reuters.

An explosion in the port of Beirut last summer killed 200 people and destroyed entire neighborhoods, exacerbating Lebanon's worst political and economic crisis since the 1975-1990 civil war.

CMA CGM's plan, first announced to Lebanese authorities in September, calls for the restoration of damaged docks and warehouses, as well as port expansion and digitalization, totaling between $ 400 million and $ 600 million, CMA CGM Lebanon CEO Joe Dakkak said Saturday.

On Friday, German companies unveiled a separate multi-billion dollar plan to rehabilitate the port of Beirut and surrounding areas.