Syria's General Authority for Land and Sea Ports on Sunday signed a $800 million agreement with UAE's DP World to bolster Syrian ports infrastructure and logistical services, Syrian state news agency SANA reported.
The agreement follows on from a memorandum of understanding signed between the two sides in May.
The deal with DP World, a subsidiary of United Arab Emirates investment company Dubai World, focuses on developing a multi-purpose terminal at Tartous on Syria's Mediterranean.
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.”
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.
The signing ceremony was attended by Syrian President Ahmed al-Sharaa.
Last month, U.S. President Donald Trump signed an executive order terminating a U.S. sanctions program on Syria, paving the way for an end to the country's isolation from the international financial system and for the rebuilding of its economy shattered by the civil war.
The removal of U.S. sanctions will also clear the way for greater engagement by humanitarian organisations working in Syria, easing foreign investment and trade as the country rebuilds.
(Reuters and staff)
