DP World Secures 30-Year Concession to Redevelop Syria's Port of Tartus

DP World has signed a 30-year Build-Operate-Transfer concession agreement with Syria’s General Authority for Land and Sea Ports to develop and operate the Port of Tartus, Syria's second-largest Mediterranean port. The company will invest $800 million to modernize the port's infrastructure, including new cargo-handling equipment and digital systems, aiming to transform Tartus into a strategic regional trade hub linking Southern Europe, the Middle East, and North Africa. The project is seen as a key step in Syria's post-conflict economic recovery and reintegration, with aspirations to boost trade capacity, regional connectivity, and economic diversification through potential free zones and logistics hubs. The agreement was signed in Damascus in the presence of Syrian President Ahmed Al-Sharaa, reflecting a shared vision to strengthen Syria’s role in global trade despite ongoing regional geopolitical challenges. DP World’s leadership highlighted the long-term commitment to creating resilient supply chains and economic opportunities, while Syrian officials emphasized the modernization's importance for national economic growth and job creation. The port's strategic location complements existing maritime corridors like the Bosporus and Suez Canal and is expected to enhance Syria’s access to key shipping routes.