The Syrian General Authority for Land and Sea Ports announced the signing of a memorandum of understanding with UAE-based DP World valued at $800 million to develop Tartus Port and logistical areas in Syria.
In an announcement by the Authority on Thursday, May 15, it was stated that the memorandum aims to enhance the infrastructure of ports and logistics in Syria, including a comprehensive investment in the development, management, and operation of a multi-purpose terminal at Tartus Port, which will contribute to increasing the efficiency of the port and its operational capacity, enhancing its role as a pivotal center for regional and international trade movement.
According to the statement, DP World also agreed with the Syrian Ports Authority to cooperate in establishing industrial zones and free zones, alongside dry ports and transit stations for goods in several strategic areas within Syria, reflecting both parties’ commitment to supporting economic development and facilitating trade and transport movement.
The ousted regime signed a contract with the Russian engineering company “Stroytransgaz” in 2019 to manage Tartus Port for 49 years, but the new administration terminated the contract and canceled this agreement following the regime’s collapse.
Syria has several major sea ports, most notably Tartus, Latakia, and Baniyas, along with other facilities under rehabilitation and development.
All these ports currently operate directly under the management of the General Authority for Land and Sea Ports, while the investment contract for the container terminal at Latakia Port has been renewed with a specialized French company.
Regarding the mechanism for investing in Syrian ports, the Director of Local and International Relations at the General Authority for Land and Sea Ports, Mazen Alloush, stated earlier to Enab Baladi that it will rely on competitive offers, whether through direct announcement or negotiation with qualified companies, allowing any country or company committed to the specified laws and conditions to submit an investment request, in accordance with the national security requirements and public interest.
About DP World
DP World UAE is one of the largest port operators in the world and is a subsidiary of DP World, the international investment arm of the Dubai government.
The company was officially established in 1999 and specializes in maritime, land, and air transportation as well as logistics services related to these sectors, employing 97,000 people worldwide.
DP World UAE operates 78 active sea and inland terminals supported by more than 50 related companies in 40 countries across six continents.
DP World invests $800 million in Tartus Port Enab Baladi.
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