Syria-DPWorld deal: $800 million Tartus port pact signed; post-Assad regime eyes post-war reconstruction
The deal comes as the new Islamist authorities, who took power following the ousting of longtime ruler Bashar al-Assad in December, continue efforts to reconnect Syria with international companies and revive its shattered economy.
'In the presence of President Ahmed Al-Sharaa, an agreement was signed between the General Authority for Land and Sea Ports and DP World, valued at $800 million, as a strategic step aimed at enhancing port infrastructure and logistics services in Syria,' state news agency SANA reported.
DP World CEO Sultan Bin Sulayem said the country held 'significant assets, including the Port of Tartus, which represents an opportunity to transport and export many Syrian industries.' He also pledged to make Tartus 'one of the best ports in the world'.
DP World operates dozens of marine and inland ports and terminals across Asia, Africa and Europe.
The war left Syria's infrastructure in ruins. The new leadership is banking on the easing of Western sanctions to attract investment and drive reconstruction.
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Qutaiba Badawi, head of the general authority for land and sea ports, said the agreement was more than technical.
'We are laying the foundation for a new phase of field and maritime work in Syria, repositioning ourselves on the regional and international economic map,' he said, quoted by AFP.
In May, Syria signed a 30-year contract with French shipping giant CMA CGM to run the port of Latakia.
That same month, it finalised a $7 billion energy deal with a consortium of Qatari, Turkish and US companies aimed at restoring its crippled power sector.
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