DP World Signs 30-Year Concession for Development of Tartus Port
As reported by the International Desk of Artin News, quoting DP World and Seatrade Maritime, UAE-based DP World has signed a 30-year concession agreement to develop and operate the Port of Tartus in Syria.
The group will invest approximately $800 million over the duration of the concession to upgrade infrastructure, increase capacity, equip container and general cargo terminals, and transform the port into a regional trade hub.
The agreement was signed in Damascus in the presence of Ahmed Al-Sharaa, President of the Syrian Arab Republic, by Sultan Ahmed bin Sulayem, Chairman and Group CEO of DP World, and Qutaiba Ahmed Badawi, Chairman of Syria’s General Authority for Land and Sea Ports.
“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,” said Sultan Ahmed bin Sulayem, Chairman and Group CEO of DP World.
Qutaiba Ahmed Badawi, Chairman of Syria's General Authority for Land and Sea Ports, added: “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, 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.”
Located on Syria’s Mediterranean coast, Tartus is the country’s second-largest port and a key maritime gateway for trade routes to Europe, the Middle East, and North Africa. The project, fully owned by DP World and structured as a Build-Operate-Transfer (BOT) model, will include new infrastructure, advanced cargo-handling equipment, and digital systems to improve efficiency.
DP World will also explore opportunities to develop free zones, inland logistics hubs, and transit corridors in partnership with local stakeholders.
