Syria has signed a 30-year investment contract with the French company CMA CGM for the development and operation of the Latakia port, as announced by the port director and a company official to AFP during the signing ceremony at the presidential palace.
Joseph Daqaq, the regional director of the French company, stated, “We are pleased to announce today the signing of the investment and management contract for Latakia port for the next thirty years.” Port director Ahmad Mustafa explained that “an investment of 230 million euros” will be made to develop the port through this contract, adding, “A new quay will be built… to international standards.”
