French shipping and logistics major CMA CGM has decided to accelerate the launch of the second phase of the Latakia Port expansion project in Syria.
The decision follows the meeting between CMA CGM’s Chairman and CEO, Rodolphe Saadé , and the Syrian President, Ahmad al-Sharaa, in Damascus.
As revealed by CMA CGM, the new phase will directly complement the initial phase of €30 million investment and represents a strategic commitment of €200 million in the near future.
Under the renewed 30-year concession agreement signed on May 1, 2025, the French company will continue to manage and redevelop Syria’s main international container terminal at the Port of Latakia, with an aim to ‘significantly enhance’ the port’s role as a regional trade hub and support Syria’s economic recovery.
The €200 million investment in the container terminal of Latakia Port will cover:
The launching and operation of dry ports throughout Syria is also part of the CMA CGM global logistics development plan.
Last month, the UAE-based logistics heavyweight DP World signed a 30-year concession agreement with Syria’s General Authority for Land and Sea Ports to develop and operate the Port of Tartus.
As part of the agreement, DP World plans to invest $800 million over the duration of the concession to upgrade the port’s infrastructure and position it as a ‘critical’ regional trade hub connecting Southern Europe, the Middle East, and North Africa.