The Syrian government has entered into a landmark US$800 million memorandum of understanding with Dubai-based port operator DP World to transform the Port of Tartus.
The agreement outlines plans to develop, manage, and operate a multi-purpose terminal, alongside the creation of industrial and free trade zones aimed at revitalizing Syria’s war-battered economy.
The announcement came during a pivotal week, coinciding with U.S. President Donald Trump’s unexpected declaration of plans to lift long-standing sanctions on Syria.
In a parallel development, in early May, French shipping giant CMA CGM finalized a 30-year concession to keep operating and modernizing the Port of Latakia.
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