DP World Advances Syria’s Economic Recovery Through Port Of Tartous Modernisation

DP World has completed a crucial phase in its US$800 million initiative to modernize Syria's Port of Tartous, marking a significant step towards bolstering the nation's economic recovery. Three mobile harbour cranes (MHCs) have been installed, which are anticipated to boost the port's cargo-handling capacity by around 40%. This enhancement facilitates swifter vessel turnaround, improved operational efficiency, and a greater capacity to manage containerised, bulk, and breakbulk cargo.

The investment aligns with DP World's 30-year concession agreement to develop and manage the Port of Tartous. The project aims to fortify Syria's trade infrastructure, bolster supply chain resilience, and lay a solid foundation for enduring economic expansion. The equipment deliveries signify a major milestone under this agreement.

Fahad Al Banna, Chief Executive Officer of DP World Tartous, emphasized that the milestone transcends the mere delivery of new machinery. It symbolizes the company's enduring commitment to aiding Syria's economic revival by restoring vital trade infrastructure. A forward-thinking port reduces transaction costs, draws investment, and generates skilled employment opportunities.

Mohammad Shihab, Executive Vice President of DP World for the Egypt and Levant regions, highlighted the strategic positioning of the Port of Tartous on Syria's Mediterranean coast. This location enables the port to serve as a crucial trade and logistics nexus, linking Syria with key regional markets, such as Iraq, Jordan, Lebanon, and Türkiye.

Moreover, it enhances trade flows across the Eastern Mediterranean, the Gulf, Europe, and North Africa. The investment strategy focuses on elevating efficiency, diminishing supply chain delays, and reinforcing connectivity, thereby facilitating businesses' seamless access to regional and global markets while supporting the growth and competitiveness of industries in manufacturing, agriculture, and commerce.

The subsequent phase of the modernization program encompasses the deployment of supplementary cargo-handling equipment, including forklift trucks and reach stackers later this year. This will be succeeded by nine additional light-duty mobile harbour cranes during 2027 and early 2028, and a new quay crane is slated for delivery in 2028.

Concurrently, DP World will initiate dredging operations to deepen the harbor, while the refurbishment of the port's quay walls is expected to be finalized by the conclusion of 2027. These physical enhancements will bolster the port's ability to accommodate larger vessels, augment operational safety and efficiency, and reaffirm Tartous' role as a pivotal gateway fortifying Syria's burgeoning trade and economic resurgence.

Beyond port operations, DP World's extensive investment extends to augmenting critical maritime infrastructure, enhancing connectivity, generating skilled employment, and facilitating smoother trade. By modernizing essential maritime facilities, DP World aims to restore Syria's standing as a regional trading hub. This transformation of the Port of Tartous will entice further investment, support businesses, and reinforce Syria's position as a gateway for regional and international commerce, thus reinforcing DP World's mission to streamline trade and catalyze transformative changes for customers, communities, and economies.