In addition to the port itself, Germany’s proposal would look to redevelop more than 100 hectares in the surrounding area in a project that the two diplomatic sources said would be along the lines of the post-war reconstruction of central Beirut.

As in that redevelopment, the plan would involve the creation of a publicly-listed company similar to Solidere, which was set up by former Prime Minister Rafik Hariri in the 1990s and remains on the Lebanon stock exchange.

The sources put the project cost at anywhere between $5 billion to $15 billion, and said it could create as many as 50,000 jobs.

The Lebanese official said France and French ports and container shipping group CMA CGM were also interested in the reconstruction project.

One of the diplomatic sources noted that France had sent several missions, including one in March that included CMA CGM, that showed an interest in playing a role in the reconstruction. That mission focused on specific clear-up operations rather than a broader redevelopment, however, the source said.

France’s foreign ministry declined to comment immediately. CMA CGM declined to comment.