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UAE: DP World to upgrade, operate Syria's Port of Tartus in $800-million, 30-year deal
The enhanced Port of Tartus will serve as a key gateway linking Southern Europe, the Middle East, and North Africa, boosting connectivity and regional commerce
- PUBLISHED: Sun 13 Jul 2025, 7:13 PM
DP World has signed a landmark 30-year concession agreement with Syria’s General Authority for Land and Sea Ports to develop and operate the Port of Tartus. The signing ceremony took place in the presence of Syrian President Ahmed Al-Sharaa.
Under the deal, DP World will invest $800 million throughout the concession period to upgrade the port’s infrastructure, aiming to transform it into a major regional trade hub.
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The enhanced Port of Tartus will serve as a key gateway linking Southern Europe, the Middle East, and North Africa, boosting connectivity and regional commerce.
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"This agreement marks an important step forward for the Port of Tartus and Syria's maritime sector," said Qutaiba Ahmed Badawi, chairman of Syria's General Authority for Land and Maritime Ports.
"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," he added.
Meanwhile, Sultan Ahmed bin Sulayem, chairman and Group CEO of DP World, said that they see strong potential in Tartus to serve as a vital trade gateway.
"(We) 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," said Sultan.
The agreement follows a memorandum of understanding (MoU) signed on May 16 between the two sides after the lifting of US sanctions paved the way for the investment.
The MoU outlined plans to develop, manage, and operate a multi-purpose terminal at Tartus, with cooperation on establishing industrial and free trade zones.
DP World is a subsidiary of the UAE investment company Dubai World.
Syria is seeking to attract foreign investments to boost its struggling economy, and the deal was signed in the same week that US President Donald Trump announced plans to lift of sanctions on Syria during a visit to Riyadh.
