Latest news with #QutaibaAhmedBadawi
Gulf Business
2 days ago
- Business
- Gulf Business
DP World signs $800m deal to redevelop Syria's Port of Tartus
DP World has entered into a 30-year concession agreement with Syria's General Authority for Land and Sea Ports to develop and operate the Port of Tartus. The deal, structured as a Build-Operate-Transfer (BOT) model and fully owned by DP World, aims to modernise the port's infrastructure and reestablish Tartus as a vital trade hub connecting Southern Europe, the Middle East, and North Africa. Under the agreement, The agreement was signed in Damascus in the presence of His Excellency 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 the General Authority for Land and Sea Ports. Sultan Ahmed bin Sulayem, chairman and group CEO of DP World, said: '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. We believe in the power of trade to help drive long-term stability and prosperity for Syria and the region.' 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 as we continue to rebuild key trade lanes, 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.' Read: Trade routes Strategically located on Syria's Mediterranean coast, Tartus is the country's second-largest port and plays a critical role in connecting trade routes to Europe, the Levant, and North Africa. The redevelopment is expected to significantly boost Syria's trade potential, enabling the port to handle a wider variety of cargo including general cargo, containers, breakbulk, and roll-on/roll-off traffic. DP World also plans to explore opportunities for developing free zones, inland logistics hubs, and transit corridors in partnership with local stakeholders. These initiatives aim to support Syria's economic recovery and diversification efforts. With operations in more than 75 countries and over 9.2 per cent of global container traffic handled through its network, DP World brings more than 40 years of experience in global logistics development. The Tartus project builds on the company's growing portfolio and reinforces its presence in the Middle East.
Arabian Post
2 days ago
- Business
- Arabian Post
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. ADVERTISEMENT 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.
Al Etihad
3 days ago
- Business
- Al Etihad
DP World to develop Syria's Tartus Port under landmark 30-year deal
13 July 2025 19:19 DAMASCUS (ALETIHAD) DP World has signed a 30-year concession agreement with Syria's General Authority for Land and Sea Ports to develop and operate the Port of part of the agreement, DP World will invest $800 million over the duration of the concession to upgrade the port's infrastructure and position it as a critical regional trade hub connecting Southern Europe, the Middle East and North 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 General Authority for Land and Sea over a decade of conflict and long-standing underinvestment in trade infrastructure, the redevelopment of Tartus marks an important step in Syria's economic as a Build-Operate-Transfer (BOT) model and fully owned by DP World, the project will include new infrastructure, advanced cargo-handling equipment, and digital systems to improve efficiency across the port's container and general cargo Ahmed bin Sulayem, Chairman and Group CEO of DP World, said, '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. We believe in the power of trade to help drive long-term stability and prosperity for Syria and the region.'Qutaiba Ahmed Badawi, Chairman of Syria's General Authority for Land and Sea Ports, said, "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 as we continue to rebuild key trade lanes, 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 to trade routes across Europe, the Levant and North Africa. Its strategic position enhances regional connectivity, complementing existing routes through the Bosporus and Suez. The redevelopment will enable Tartus to handle general cargo, containers, breakbulk, and roll-on/roll-off traffic, expanding Syria's trade potential as the country continues to World will also explore opportunities to develop free zones, inland logistics hubs, and transit corridors in partnership with local stakeholders, supporting broader economic diversification and trade facilitation efforts. With a presence in over 75 countries and 9.2% of global container traffic flowing through its ports and terminals, DP World brings over four decades of experience in developing logistics infrastructure around the world. The Tartus project adds to its growing portfolio and complements existing operations in the Middle East.
