In a strategic move that aims to reshape the regional maritime trade landscape, Syria’s General Authority for Land and Sea Ports has signed a landmark $800 million investment agreement with DP World to operate, expand, and modernize Tartous Port in line with international standards. The signing ceremony took place today at the Presidential Palace in Damascus, in the presence of President Ahmad Al-Sharaa.
A Balanced Partnership for Future Growth
During a press conference following the signing, Qutaiba Badawi, Chairman of the General Authority, emphasized that the agreement came after months of detailed negotiations. He affirmed that the deal was carefully structured to protect Syria’s national interests, ensure transparency, and align with the country’s development priorities.
Badawi highlighted that DP World demonstrated clear commitment and seriousness throughout the negotiation process, bringing global expertise and a strategic vision necessary for success in complex environments like Syria.
He stated:
“What we signed today is not just a technical operating contract – it’s the beginning of a new phase in Syria’s maritime sector and a step toward re-establishing our economic role in the region and beyond.”
30 Years of Development – Investment in Three Phases
Sultan bin Sulayem, Chairman and CEO of DP World, confirmed that the agreement spans 30 years, renewable by mutual consent, with the $800 million investment to be distributed across three phases:
- Phase 1: $200 million
- Phase 2: $200 million
- Phase 3: $400 million
He clarified that there is no strict timeline for disbursing these funds, allowing flexibility in execution. The full investment may be injected within the first one or two years.
Why Tartous?
Bin Sulayem explained that Tartous Port holds a strategic position on the Mediterranean, serving as an ideal gateway between East and West. This opens up major opportunities for trade, manufacturing, and investment—particularly in light of global shifts in supply chain dynamics.
He added:
“Since the signing of the initial MoU in May, we have received hundreds of expressions of interest from international investors and companies looking to take advantage of the port’s strategic location and export potential to Europe and neighboring markets.”
The project is expected to create thousands of job opportunities and spark a new phase of industrial and logistics development, including specialized industrial zones and enhanced port handling capabilities.
A Well-Considered Choice
Badawi noted that DP World was selected after careful consideration, owing to its impressive global track record in managing dozens of ports across Europe, Asia, and Africa. The company’s Arab identity also added a strategic advantage in terms of communication and cultural alignment.
He pointed out that DP World was one of the first companies to express interest in developing the port post-liberation, and backed its commitment by sending technical teams to Syria and actively engaging in all negotiation rounds.
This agreement is more than an economic deal—it marks the beginning of a new era for Syria, opening doors to regional and global integration and reviving the country’s role as a strategic hub on the Mediterranean Sea.
