CMA CGM expedites Latakia Port investments: French logistics giant CMA CGM is fast-tracking the launch of the EUR 200 mn second phase of its Latakia Port concession, according to a press release published last week. The move follows an agreement reached last week in a meeting between Syrian premier Ahmed Al Sharaa and CEO and Chairman Rodolphe Saadé.

Where’s the money going?

  • Expanding the container terminal’s capacity to handle over 1 mn TEUs per year;
  • Digitizing port functions, including cargo handling;
  • Revamping infrastructure to accommodate larger vessels with 16-meter drafts;
  • Integrating rail and road links;
  • Establishing and operating new dry ports elsewhere in Syria.

REMEMBER- CMA CGM agreed to invest EUR 230 mn to upgrade the Syrian port earlier this year, committing EUR 30 mn for the first year of its 30-year concession. CMA will also develop and operate dry ports in both the Syrian-Jordanian Joint Freezone and the Adra freezone.

That’s not all in Syria: Beyond CMA CGM’s moves, more projects and investments across Syria’s logistics sectors are lining up, with a pipeline that includes the following:

  • A (USD 800 mncommitment from DP World to redevelop Tartus Port under a build-operate-transfer model;
  • A USD 4 bn investment to develop Damascus International Airport by a Qatar-US-Turkey consortium;
  • A spate of Turkish investments in industrial zones for SMEs across the country;
  • A freezone in Turkey-bordering Idlib currently under development, spanning 1.1 mn sqm area and including a dry port;
  • A USD 374.3k tender to upgrade Al Muslimiyah freezone in Aleppo Governorate, launched earlier this year;
  • An automotive-focused freezone is also said to be in the works, though no further details were disclosed.
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