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Syria-Lebanon-Iran

Syria Finds Investor for Tartus Port After Rejecting Agreement with Russia

2025-05-17

Direct Translation via Google Translate. Edited.

[Regnum] The Syrian Seaports and Land Border Crossings Authority signed a memorandum of understanding with Dubai-based port operator DP World on an $800 million investment in the port of Tartus. Prior to this, Damascus terminated the port management agreement with Russia.

“The memorandum implies comprehensive investments in the development, management and operation of a multi-purpose terminal in the port of Tartus, which will improve the port’s efficiency,” RIA Novosti reported on May 16.

It also noted that the Syrian Border Guard and DP World will cooperate to establish industrial zones, free economic zones, dry ports and transit terminals in strategic areas of Syria.

As reported by the Regnum news agency, armed opposition groups entered Damascus in December 2024. Syrian President Bashar al-Assad resigned and flew to Russia with his family, where they were granted political asylum. Deputy Foreign Minister of the Russian Federation Mikhail Bogdanov said that Moscow expects to maintain military bases in Syria, as they play an important role in the fight against international terrorism.

In January 2025, Tartus Customs Director Riyad Judi announced that the new Syrian authorities had terminated the contract for the modernization of the port, signed with a Russian company in 2019, and annulled all agreements. The contract was concluded for 49 years. It envisaged investments in the port in the amount of $500 million and the transfer of its management to the Russian side.

Russian presidential press secretary Dmitry Peskov said in April that Russia was interested in establishing relations with the new Syrian authorities. Moscow also maintains contacts with all players in the region.

Posted by:badanov

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