DP World in 30-year Tartus redevelopment deal
DP World has signed a 30-year concession with Syria’s general authority for land and sea ports for the modernisation of the port of Tartus.
The USD 800 million project aims to restore Tartus as a regional trade hub connecting Southern Europe, the Middle East and North Africa.
The build-operate-transfer agreement, signed in Damascus, includes infrastructure upgrades, new cargo-handling equipment and digital systems. Tartus, Syria’s second-largest port, will handle containers, breakbulk, ro-ro and general cargo, enhancing regional connectivity.
DP World also plans to develop free-trade zones and inland logistics hubs in Syria.
With operations in 75 countries, DP World currently handles 9.2% of global container volumes. The Tartus initiative supports Syria’s post-conflict economic recovery and aims to improve long-term trade flows in the region. (gy)