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14/07/2025 06:29 AST
Global logistics giant DP World has signed an $800 million agreement with Syria's General Authority for Land and Sea Ports to develop and manage a multipurpose terminal at Tartus Port, marking a major step in Syria's post-war reconstruction efforts.
The deal, signed in the presence of Syrian President Ahmed Al Sharaa, is intended to strengthen the country's port infrastructure and logistics capabilities after more than a decade of devastating conflict.
The agreement builds on a memorandum of understanding signed between the two parties in May and includes comprehensive investments in the development, management, and operation of key facilities at Tartus, one of Syria's most strategically located ports on the Mediterranean.
"Syria's economic foundations are significant, and Tartus Port represents a vital gateway for transporting and exporting Syrian industries," said Sultan bin Sulayem, Chairman of DP World. "Our goal is to transform Tartus into one of the world's leading ports in terms of transport and cargo-handling services."
Once completed, the project is expected to significantly boost the port's efficiency and operational capacity, reinforcing its potential as a hub for regional and international trade routes.
The move reflects a growing effort by both local and international stakeholders to revive Syria's economy and reintegrate it into broader commercial networks, despite ongoing geopolitical sensitivities.
Gulfnews
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14/07/2025
Saudi telecom group stc has announced that the 2Africa cable system - Pearls, the world's longest submarine cable, has successfully landed in Bahrain. This massive $205 million lift up in global conn
Trade Arabia
14/07/2025
The total electricity generation in the Sultanate of Oman saw a notable growth of 11% by the end of April 2025, reaching 13,479.8 gigawatt per hour (GWh), compared to 12,142.3 GWh during the same per
Times of Oman
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Oman's tourism sector contributed over 2.12 billion rials ($5.51 billion) to the Gulf country's national economy in 2024, up from 1.75 billion rials in 2018, according to official data.
The
Arab News
14/07/2025
The UAE is poised to attract up to 50,000 new millionaires over the next five years - exceeding projections by global think tanks, according to Rajesh Khanna, CEO of Wealthbrix Capital Partners.
Khaleej Times
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