Revitalizing Syria: $800 Million Port Transformation Deal
Syria's General Authority for Land and Sea Ports signed an $800 million agreement with UAE's DP World to enhance Syrian ports and logistical services. This follows a May memorandum of understanding. The deal includes developing a terminal at Tartous and creating industrial and free trade zones. U.S. sanctions have been lifted, aiding Syrian reconstruction.
Syria's General Authority for Land and Sea Ports finalized an $800 million agreement with Dubai-based DP World to enhance the nation's port infrastructure. The pact, reported by SANA, will improve logistics as Syria rebuilds its economy.
The agreement expands upon a preliminary understanding reached in May, focusing on development at Tartous's Mediterranean terminal and initiating industrial and free trade areas. Syrian President Ahmed al-Sharaa attended the signing.
The lifting of U.S sanctions, following an order by President Trump, now allows broader international involvement and investment, vital for Syria's post-war reconstruction and financial reintegration.
(With inputs from agencies.)
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