The General Authority for Land and Sea Ports in Syria and DP World have inked a 30-year concession deal for the development and management of the Port of Tartus. Under the terms of the concession, DP World will spend $800 million to improve the port’s infrastructure and establish it as a vital regional trading hub that links North Africa, the Middle East, and Southern Europe.
Sultan Ahmed Bin Sulayem, the Chairman and Group CEO of DP World, and Qutaiba Ahmed Badawi, the Chairman of the General Authority for Land and Sea Ports, inked the deal in Damascus in front of Syrian President Ahmed Al-Sharaa.
The reconstruction of Tartus is a significant milestone in Syria’s economic reintegration after more than ten years of war and chronic underinvestment in commercial infrastructure.
The project, which is entirely owned by DP World and is organised according to the Build-Operate-Transfer (BOT) model, will incorporate new infrastructure, cutting-edge cargo-handling machinery, and digital systems to increase productivity throughout the port’s general cargo and container terminals.
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