DP World To Invest $800 Million To Rebuild Syria’s Tartus Port

DP World, a Dubai-based logistics company, has signed a 30-year concession agreement with Syria’s General Authority for Land and Sea Ports to develop and operate the Port of Tartus.

As part of this long-term deal, the company will invest USD 800 million over the full period to upgrade the port’s infrastructure and help turn it into a regional trade hub.

The agreement was signed in Damascus in the presence of the President of the Syrian Arab Republic, Ahmed Al-Sharaa. It was signed by Sultan Ahmed bin Sulayem, Chairman and Group CEO of DP World, and Qutaiba Ahmed Badawi, Chairman of the General Authority for Land and Sea Ports.

The Port of Tartus is located on Syria’s Mediterranean coast and is the second-largest port in the country. The redevelopment comes after more than ten years of conflict and is expected to support Syria’s economic recovery and improve its role in international trade.

DP World will fully own the project during the concession under a Build-Operate-Transfer (BOT) model. The plan involves developing new infrastructure, upgrading cargo-handling equipment with advanced technology, and implementing digital systems to enhance efficiency at the port’s container and general cargo terminals.

The company sees strong potential in Tartus to become an important trade gateway that connects Southern Europe, the Middle East, and North Africa.

With this agreement, Syria aims to modernise the Port of Tartus, improve the efficiency of its trade operations, rebuild its key trade routes, support the national economy, and create more opportunities for Syrian people.

Once redeveloped, the port will be able to handle general cargo, breakbulk, containers, and roll-on/roll-off traffic. Its strategic location will boost regional connectivity and expand Syria’s trade capacity. The port’s position also complements existing routes through the Bosporus and the Suez Canal.

DP World also plans to explore other opportunities in Syria. These include setting up free zones, inland logistics hubs, and transit corridors in partnership with local stakeholders. These efforts aim to support economic diversification and improve trade in the region.

Reference: DP World

Source: Maritime Shipping News