DP World Commits $800 Million To Transform Syria's Tartus Port Under 30-Year Agreement

DP World has entered into a 30-year concession agreement with Syria's General Authority for Land and Sea Ports to enhance the Port of Tartus. The agreement, signed in Damascus, involves an $800 million investment to upgrade the port's infrastructure, aiming to establish it as a key regional trade hub connecting Southern Europe, the Middle East, and North Africa.

Tartus, located on Syria’s Mediterranean coast, is the country's second-largest port. Its strategic location serves as a crucial maritime gateway to trade routes across Europe, the Levant, and North Africa. This redevelopment will enable Tartus to handle various types of cargo, enhancing Syria’s trade potential as the nation rebuilds.

The project is structured under a Build-Operate-Transfer (BOT) model and will be fully owned by DP World. It includes new infrastructure developments, advanced cargo-handling equipment, and digital systems aimed at improving efficiency across container and general cargo terminals.

Sultan Ahmed bin Sulayem, Chairman and Group CEO of DP World, stated: "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. We believe in the power of trade to help drive long-term stability and prosperity for Syria and the region."

Qutaiba Ahmed Badawi, Chairman of Syria's General Authority for Land and Sea Ports, remarked: "This agreement marks an important step forward for the Port of Tartus and Syria's maritime sector. 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 agreement reflects our shared vision to transform Tartus into a strategic gateway linking Syria with regional and international markets, and it will pave the way for sustainable growth for years to come."

Future Prospects

DP World plans to explore additional opportunities such as developing free zones, inland logistics hubs, and transit corridors in collaboration with local partners. These initiatives aim to support broader economic diversification efforts while facilitating trade.

With operations in over 75 countries handling 9.2% of global container traffic through its ports and terminals, DP World brings extensive experience in logistics infrastructure development worldwide. The Tartus project adds value to its expanding portfolio while complementing existing operations in the Middle East.

The redevelopment of Tartus signifies a significant step towards Syria’s economic reintegration after years of conflict and underinvestment in trade infrastructure. This initiative aims not only at modernising facilities but also at boosting regional connectivity.

With inputs from WAM