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3. Syria Signs 30-Year Port Deal with Shipping Giant CMA CGM

Syria signed a 30-year contract with French shipping giant CMA CGM to develop and run the port of Latakia, the port's director and a company official said on Thursday.

Joseph Dakak, CMA CGM's regional director, told AFP at the signing ceremony the company was «pleased today to announce the signing of an investment and management contract for the port of Latakia for the next 30 years».

Port director Ahmed Mustafa said the agreement included an investment of 230 million euros ($260 million) to upgrade the facility, including the construction of a new pier built to «global standards».

With AFP