Latest news with #SultanAhmedBinSulayem
Gulf Business
3 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.
Emirates 24/7
3 days ago
- Business
- Emirates 24/7
DP World to develop Syria's Tartus Port under landmark 30-year deal
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 Tartus. As 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 Africa. 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 General Authority for Land and Sea Ports. Following over a decade of conflict and long-standing underinvestment in trade infrastructure, the redevelopment of Tartus marks an important step in Syria's economic reintegration. Structured 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 terminals. 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, 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 rebuild. DP 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.
Zawya
3 days ago
- Business
- Zawya
DP World to develop Syria's Tartus Port under landmark 30-year deal
DAMASCUS: 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 Tartus. As 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 Africa. The 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 Ports. Following over a decade of conflict and long-standing underinvestment in trade infrastructure, the redevelopment of Tartus marks an important step in Syria's economic reintegration. Structured 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 terminals. 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, 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 rebuild. DP 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.
Khaleej Times
4 days ago
- Business
- Khaleej Times
UAE: DP World to upgrade, operate Syria's Port of Tartus in $800-million, 30-year deal
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. 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. "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.
Zawya
09-06-2025
- Business
- Zawya
DP World, Mawani inaugurate $800mln terminal to boost global trade connectivity
DP World and Saudi Ports Authority (Mawani) launched the South Container Terminal at Jeddah Islamic Port, supporting DP World's SAR 3 billion ($800 million) expansion and development plans. The program aims to upgrade the terminal and enhance Saudi Arabia's position as a leading global hub connecting trade routes across Asia, Africa and Europe, according to Emirates News Agency (WAM). The three-year project transformed South Container Terminal into one of the region's most advanced and sustainable container terminals. This is in addition to more than doubling the capacity from 1.80 million twenty-foot equivalent units (TEUs) to 4 million TEUs. Under a 30-year Build-Operate-Transfer (BOT) agreement, the initiative also includes future capacity of 5 million TEUs, with additional ship-to-shore equipment to be deployed amid growing demands. Sultan Ahmed bin Sulayem, DP World Group's Chairman and CEO, said: 'This expansion builds on our 25-year legacy in Jeddah and reinforces our commitment to driving trade growth in the region. With this modernized terminal, we are enhancing efficiency, improving supply chain resilience and creating new trade opportunities for the Kingdom and beyond for decades to come.' With completion scheduled for the second quarter (Q2) of 2026, the latest expansion backs Saudi Arabia's Vision 2030 goals of fostering trade connectivity and economic diversification. The terminal's modernization integrates advanced automation and digitalization to enhance operational efficiency, with smart systems reducing gate transaction times from two minutes to just 10 seconds. Automated and electrified yard cranes were deployed, along with an expanded fleet of quay cranes that will expand from 14 to 17 by the end of 2025, reaching 22 as the terminal scales up to 5 million TEUs. In the same vein, DP World is developing a facility for inspecting up to 75 reefers at one time, the biggest such port-centric facility in the Kingdom. The terminal spans a total quay length of 2,150 meters, including a deep-water quay with an 18-meter depth, capable of accommodating up to five ultra-large container vessels simultaneously. Adjacent to the terminal, DP World is investing in the 415,000 square meter Jeddah Logistics Park, offering warehousing, distribution and freight forwarding services. All Rights Reserved - Mubasher Info © 2005 - 2022 Provided by SyndiGate Media Inc. (
