DP World signs deal for $800 million port development in Syria
Posted on May 23, 2025 at 09:05 PM
Following the signing of an agreement with the recently installed Syrian government, the UAE port and logistics behemoth joins CMA CGM in announcing plans to invest in the Middle Eastern nation.
Notably, the new Syrian government and DP World, a port operator based in Dubai, have inked a memorandum of understanding for an investment of $800 million at the port of Tartus.
Tartus Multipurpose Terminal's MOU
The MOU includes funding for the construction, administration, and operation of a multipurpose terminal in Tartus, according to Syrian state news agency SANA. This is part of the government's efforts to improve port infrastructure and logistics services following years of conflict.
Moreover, the deal comes after President Trump met with Syrian President Ahmed al-Sharaa in Saudi Arabia shortly after the United States lifted its sanctions against the nation earlier this week.
According to SANA, the General Authority for Land and Seaports in Syria and DP World will work together under the MOU to improve the port's operational capacity, efficiency, and function as a regional centre for global trade.
Additionally, the two will work together to create free zones, industrial zones, dry ports, and freight transit stations inside Syria.
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DP World's Plans to Expand Operations in Syria
As stated by DP World's spokesperson, the group “looks forward to bringing this MOU to execution, and we will work hard with colleagues in the government of Syria to explore all potential opportunities to provide end-to-end solutions in the country.”
“DP World is committed to responsible investment to make trade flow around the world and wherever we operate. Our work aligns with the evolving regulatory framework in light of recent positive developments and signals of renewed international engagement with Syria.”
Besides, the announcement earlier this month that CMA CGM had inked a new 30-year contract with the new Syrian government to oversee and grow the container terminal at the port of Latakia, which the Marseille-based company has operated since 2009.
Tartus is Syria's second-largest port city after Latakia, which is located about 100 kilometres north. This news comes after DP World announced plans to make a sizeable investment at the port of Tartus.
Under a different MOU with the Dominican Republic's government, DP World confirmed last Wednesday that it would invest an additional $760 million in the port of Caucedo, where it has been active since 2003.
In closing, DP World intends to expand its free trade zone and increase the Caribbean container port's box capacity from 2.5 million TEU to 3.1 million TEU.
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