Dubai-based international commerce large DP World has signed a 30-year Construct-Function-Switch (BOT) concession settlement to develop and function the Port of Tartus in Syria, marking a serious milestone within the nation’s post-conflict financial restoration.
Underneath the take care of Syria’s Normal Authority for Land and Sea Ports, DP World will make investments $800m over the concession interval to improve Tartus’s infrastructure, reworking it right into a strategic regional commerce hub linking Southern Europe, the Center East, and North Africa.
The settlement was signed in Damascus within the presence of Syrian President Ahmed Al-Sharaa, DP World Chairman and Group CEO Sultan Ahmed bin Sulayem, and Syrian Ports Authority Chairman Qutaiba Ahmed Badawi.
The deal is seen as a important step in Syria’s financial reintegration after years of battle and underinvestment.
Sultan Ahmed bin Sulayem, Chairman and Group CEO of DP World, mentioned: “This settlement displays our long-term dedication to enabling international commerce and creating resilient provide chains. We see robust potential in Tartus to function an important commerce gateway and sit up for strengthening regional connectivity and financial alternative via this funding.
“We consider within the energy of commerce to assist drive long-term stability and prosperity for Syria and the area.”
DP World Syria improvement plans:
- Main infrastructure upgrades for container and basic cargo terminals
- Set up of superior cargo-handling tools and digital methods
- Enlargement into breakbulk, roll-on/roll-off site visitors, and inland logistics companies
- Potential improvement of free zones and transit corridors
Positioned on Syria’s Mediterranean coast, Tartus is the nation’s second-largest port, with a strategic location linking Europe, the Levant, and North Africa. The improve will enhance Syria’s capability to deal with numerous cargo sorts and enhance its competitiveness in regional commerce networks.
Qutaiba Ahmed Badawi, Chairman of Syria’s Normal Authority for Land and Sea Ports, mentioned: “This settlement marks an essential step ahead for the Port of Tartus and Syria’s maritime sector. Partnering with DP World will permit us to modernise and strengthen the effectivity of our commerce infrastructure as we proceed to rebuild key commerce lanes, help the nationwide financial system and supply extra alternatives for the Syrian folks.
“The settlement displays our shared imaginative and prescient to remodel Tartus right into a strategic gateway linking Syria with regional and worldwide markets, and it’ll pave the way in which for sustainable development for years to return.”
With operations in over 75 international locations and 9.2 per cent of world container site visitors, DP World is a pacesetter in international logistics infrastructure. The Tartus mission provides to its increasing portfolio within the Center East and underscores its technique to spend money on long-term commerce development and resilient provide chains.
