DP World has formalised a 30-year concession agreement with Syria’s General Authority for Land and Sea Ports aimed at the development and operation of the Port of Tartus.
Under this agreement, the company plans to invest $800m throughout the concession period to enhance the port’s infrastructure, positioning it as a vital trade hub linking Southern Europe, the Middle East, and North Africa.
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Situated on Syria’s Mediterranean coast, Tartus is the country’s second-largest port and serves as a crucial maritime access point.
Its strategic location is expected to bolster regional connectivity, complementing existing maritime routes through the Bosporus and Suez.
The concession agreement was signed by Sultan Ahmed bin Sulayem, chair and group CEO of DP World, alongside Qutaiba Ahmed Badawi, chair of the General Authority for Land and Sea Ports.
The signing took place in Damascus, attended by Syria’s President Ahmed Al-Sharaa.
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By GlobalDataBadawi said: “Partnering with DP World will allow us to modernise and strengthen the efficiency of our trade infrastructure as we continue to rebuild key trade lanes, support the national economy and provide more opportunities for the Syrian people.”
The project, structured under a build-operate-transfer model and entirely owned by DP World, will introduce new infrastructure, cargo-handling equipment, and digital systems aimed at enhancing efficiency across the port’s container and general cargo terminals.
Additionally, DP World is set to investigate opportunities for developing free zones, inland logistics hubs, and transit corridors in collaboration with local stakeholders, which will aid in broader economic diversification and trade facilitation efforts.
Bin Sulayem said: “This agreement reflects our long-term commitment to enabling global trade and creating resilient supply chains.
“We see strong potential in Tartus to serve as a vital trade gateway and look forward to strengthening regional connectivity and economic opportunity through this investment.”
In May this year, DP World announced an extension of its Carbon Inset Programme, which has registered more than 150,000 import containers since its launch in January.
This initiative offers cargo owners 50kg carbon dioxide equivalent credits for each loaded import container processed at DP World’s UK terminals.
