On Thursday, Syria signed a 30 -year contract with the French company “CMACGM”, to develop and operate the port of Lattakia, according to the French Press Agency quoted the port manager and a company official on the sidelines of the signing of the contract in the presidential palace.
“We are pleased today to announce the signing of an investment and administration contract for the port of Latakia for the next thirty years,” said the regional director of the French company, Joseph Dqaq,.
He added, “In the context of this contract, we committed to updating the port, expanding it, and deepening its basin, to be able to receive larger ships, and absorb all the expected quantities of goods that are expected to arrive in Syria during the coming years.”
The official Syrian News Agency “SANA” reported that the contract signed the “General Authority for Land and Maritime Ports with the French Company” at the People’s Palace in Damascus in the presence of Syrian President Ahmed Al -Shara.
The director of relations at the General Authority for Land and Navy Ports Mazen Alloush told the agency that the period of the agreement is 30 years, which is the internationally approved period for this type of investment to ensure economic feasibility and achieve the desired development goals.
He indicated that during this period, the French company will start pumping initial investments worth 30 million euros during the first year, dedicated to developing infrastructure and superstructures and maintenance of current equipment and sidewalks, in addition to introducing modern operating systems and technology adopted by the company in other global ports, and in the following three years it will be pumped additional investments amounting to 200 million euros.
Investments
For his part, the director of the port, Ahmed Mustafa, explained that the contract provides for “investing 230 million euros”, and that “the investment contract with the French company … for investment, development and management of the Lattakia Port is the first contract with an international investment authority in Syria” after the fall of Bashar al -Assad in December 2024.
He pointed out that the new sidewalk that will be built at the container station in the port “will be with standard international specifications, 1.5 km, and a depth of 17 meters.”
Mustafa explained that this allows the entry of large ships that cannot now enter the port of Latakia, as well as the entry of a large number of containers to the port, where there will be an infrastructure and superior to operation.
As for the operational revenue of the port, Mustafa explained that it will be divided between “CMA” and the Syrian state, by 60% for the Syrian state, and 40% in favor of “CMA”.
“The ratio changes ascending with the increase in the number of containers that will enter the country,” he said.
In February, the General Authority for Land and Navy announced a meeting with the company “CMACGM” operating the container station in the port of Latakia, during which it was agreed to “liquidate the previous receivables of the two parties during the past decade, and conclude a new contract to operate the station according to new conditions and mechanisms.”
The company “CMACGM” has operated the container station in the port of Lattakia during the Assad regime period since 2009 based on an old contract that was renewed more than once, before reaching the new contract, according to the director of the port.
