14-07-2025
DP World Secures 30‐Year Deal to Revitalise Tartus Port
DP World has finalised a 30‑year concession worth US $800 million to modernise and operate the port of Tartus on Syria's Mediterranean coast, as per official statements issued on 13 July 2025. The agreement, inked in Damascus between DP World and Syria's General Authority for Land and Sea Ports, was witnessed by Syrian President Ahmed al‑Sharaa, along with DP World's Chairman and Group CEO Sultan Ahmed bin Sulayem and Qutaiba Ahmed Badawi, chairman of the port authority.
The deal follows a memorandum of understanding signed in May, and comes in the wake of Washington's recent move to lift US sanctions on Syria, which paved the way for renewed international investment. DP World will fund and execute significant upgrades at Tartus, Syria's second‑largest port, enhancing its capacity to handle containers, roll‑on/roll‑off and breakbulk cargo, under a build‑operate‑transfer model fully owned by the company.
Sultan bin Sulayem highlighted the strategic importance of the port, calling it 'a vital gateway' to Southern Europe, the Middle East and North Africa that can support resilient supply chains and spur regional economic stability. Qutaiba Ahmed Badawi described the agreement as 'an important step forward' in modernising trade infrastructure, supporting Syria's reconstruction and creating opportunities for its people.
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The pact includes plans to build industrial zones, free‑trade areas and logistics corridors linked to the port, signalling a broader vision to diversify Syria's economic base and integrate it more deeply into global trade networks. DP World operating in over 75 countries and handling approximately 9.2 per cent of global container traffic, brings significant expertise to the project.
The agreement follows the termination earlier this year of a 49‑year commercial lease previously held by a Russian firm, cancelled by Syria's new government in January. That move paved the way for the port's complete nationalisation and cleared the path for this new international partnership. While Syria retains the Russian naval base in Tartus, civilian port operations were reverted to state control before the DP World deal was confirmed.
Commercial observers highlight the significance of this development for Syria's reconstruction efforts. Gulf News described the agreement as 'a major step in Syria's post‑war reconstruction'. Al Jazeera noted that the investment was part of a series of high‑profile contracts by the new government following Washington's easing of sanctions.
Syria's ambition to attract foreign capital is further evidenced by previous agreements this year, including a 30‑year deal with French shipping giant CMA CGM to operate the port of Latakia, and a US $7 billion coalition-led energy sector pact.
Critics caution that success hinges on political stability, reconstruction transparency, and effective governance. However, DP World's emphasis on digital infrastructure, modern cargo‑handling systems and global trade linkages suggests a strategic approach targeting efficiency gains and sustainable economic activity.
The agreement marks the most substantial foreign investment Syria has secured since the end of the Assad-led conflict era and represents a significant shift toward reintegration into regional and international trade frameworks.
