DP World began operations at Syria's Tartus port on Wednesday after a 30-year development and operational agreement.
The agreement with Tartus, Syria's second largest port, also includes an $800 million commitment to upgrade infrastructure.
“Working closely with the Syrian government and General Authority for Land and Sea Ports, we are committed to applying DP World’s global expertise to build a modern and digitally enabled port that will grow trade, create opportunities and firmly position Tartus as a key trade hub in the Eastern Mediterranean,” Fahad Al Banna, chief executive of DP World Tartus, said in a statement.
The Dubai-based global ports operator said it is assessing Tartus port's infrastructure including equipment, quay readiness and yard and warehouse facilities. It is also conducting technical surveys, operational studies and design planning, Wam reported.
Sultan bin Sulayem, DP World's group chairman and chief executive, said in July that Tartus could become a “vital trade gateway” for the Middle East.
DP World said near-term priorities include dredging port access channels, basins and berths.
Medium-term priorities also include upgrading port infrastructure and superstructure, expanding handling and storage capacity and investing in bulk handling systems.
