Turkey is about to receive a US$1 billion injection from the private sector to revamp seaport projects over the next five years. The plan involves the construction of more than ten new seaport terminals in three years from some of the world’s largest terminal and port management companies.

The overall capacity of cargo handling in Turkey reached 350 million tonnes this year, which is increasingly important in a country where sea transport accounts for 87 percent of foreign trade.

Operating more than 67 percent of the 160 seaports in Turkey, domestic and international companies plan to invest further, including DP World, which announced that it is getting ready to invest US$107 million in a seaport in Yarimca.

Yilport, a container terminal and port operating company, on the other hand, aims to invest US$500 million in 2016 for seaport projects.

Source: Hürriyet