Syria enters into a 30-year agreement with a prominent French shipping conglomerate.
Syria Seals 30-Year Deal with CMA CGM to Revamp Latakia Port
In a significant move, Syria has inked a three-decade agreement with French logistics juggernaut CMA CGM. The deal covers the expansion and management of Latakia Port, Syria's prime maritime entry point. The partnership, inked in May 2025, marks a fresh chapter in the partnership's history and a continuation of its operations, which began in 2009 under the leadership of Bashar Al-Assad[1][4].
The grand deal, reported by Reuters, includes a whopping €230 million ($260 million) investment from CMA CGM over the course of the partnership. Of this sum, €30 million will be invested in the initial year, followed by additional investments over the subsequent four years, primarily allocated for port development and technological upgrades[1][4].
CMA CGM, led by Franco-Lebanese tycoon Rodolphe Saade and his kin, who boast roots in Syria, is set to modernize and expand the terminal at Latakia, aiming to meet the growing demand and strengthen supply chains in the region[2]. In an interview with Reuters, Joe Dakkak, General Manager at CMA CGM LEVANT, affirmed their commitment, stating, "We are committed to modernizing and expanding the terminal to meet growing demand and strengthen supply chains in the region."
A critical aspect of the agreement is the construction of a cutting-edge, deeper berth at Latakia Port, to cater to the needs of larger ships currently restricted by depth constraints[1][4]. The new berth, spanning approximately 1.5 kilometers in length and 17 meters in depth, will be constructed according to international standards, complete with advanced infrastructure to boost the port's capacity and efficiency[1][4].
The deal also includes plans for deepening the basin and renovating facilities to accommodate increasing volumes of goods to flow through Syria in the coming years[1][2]. The new berth is estimated to be completed within four years following the initial investment period[1].
It's worth mentioning that, after political changes in Syria in December 2024, the newly-minted authorities had negotiations over the contract terms to secure a higher revenue share and other concessions before putting pen to paper in 2025[3][4].
In essence, the 30-year pact between Syria and CMA CGM revolves around a €230 million investment in port modernization, centered on a state-of-the-art deep-water berth at Latakia Port, with progressive investments planned over five years and a revenue-sharing structure that favors Syria[1][3][4]. This strategic partnership aims to bolster Syria’s maritime infrastructure and trade capabilities for the next three decades.
- The 30-year agreement between Syria and CMA CGM, officially announced in May 2025, will see a €230 million investment from CMA CGM, including €30 million in the initial year and additional investments over four years.
- CMA CGM, led by Franco-Lebanese businessman Rodolphe Saade, plans to modernize and expand the terminal at Latakia Port, with the aim of meeting growing demand and strengthening supply chains in the region.
- A key part of the deal is the construction of a cutting-edge, deeper berth at Latakia Port, intended to cater to larger ships and accommodate increasing volumes of goods in the coming years.
- The public-transit sector and transportation businesses in Syria are expected to benefit from the updated infrastructure, as the modernized port will facilitate smoother transportation of goods within the country and beyond.
- The deal also includes negotiations with the newly-minted authorities in Syria, who sought a higher revenue share and other concessions prior to signing the agreement in 2025, following political changes in December 2024.
- In 2024, there will be a significant political shift in Syria, triggering discussions regarding the contract terms before the official 2025 signing of the agreement, which focuses on a €230 million investment in port modernization, primarily on a state-of-the-art deep-water berth at Latakia Port, to boost Syria’s maritime infrastructure and trade capabilities for the next three decades.
