Syria’s General Authority for Land and Sea Ports signed a 30-year agreement Thursday with French shipping giant CMA CGM to develop and operate the container terminal at Latakia port. The signing ceremony took place at the People’s Palace in Damascus, with President Ahmad al-Sharaa in attendance.
The deal, worth 230 million euros, marks a major investment in Syria’s maritime infrastructure and includes a plan to modernize Latakia’s port facilities over the next five years. CMA CGM will invest 30 million euros in the first year and 200 million over the following four years.
Under the agreement, the French company will expand the quay to 1.5 kilometers in length and deepen it to 17 meters, allowing access for larger ships and significantly increasing container capacity. Operations are expected to ramp up after infrastructure upgrades are completed.
The new contract replaces an earlier agreement signed under the previous Syrian government. Officials said the terms of the old deal were significantly different and not aligned with the country’s current development goals. The revised contract includes updated revenue-sharing mechanisms, clearer technical commitments, and provisions for dispute resolution via the International Chamber of Commerce in London.
CMA CGM has been active in Syria since 2009 through its joint venture, the Lattakia International Container Terminal Company. The company has also expanded its services to the port of Tartous and operates a weekly Mediterranean shipping loop known as the Bora Med Service.
Despite the long-term nature of the investment, Syrian officials stressed that the agreement preserves national sovereignty. “All operations will take place under state supervision and according to Syrian law,” said Mazen Alloush, Director of Relations at the General Authority. He noted that CMA CGM would rely on Syrian staff, supported by training programs on advanced port management systems.
The agreement also resolves outstanding financial issues between the two parties from past years, further stabilizing the partnership. CMA CGM, controlled by the Saadé family, has maintained a strategic interest in the region, with operations in key Syrian cities and a 24% ownership stake held by Turkey’s Yildirim Holding.
The Latakia port development is seen as a critical step in restoring Syria’s role in Mediterranean trade and attracting further foreign investment to the country’s transportation sector.
