Syria will invest US$800 million to develop ports and ships by 2015, to capitalise on traffic and transport from the reconstruction process in neighbouring Iraq.
The investment will go towards expanding the Lattakia container terminal, new ships, and new dry docks, according to Transport Minister Yarub Sulayman Badr.
The expansion will increase Lattakia's port capacity to 2.5 million TEU by 2015, with a total bulk of 20 million tonnes per year, compared to 9.56 million tonnes in 2009.
An international consultant will be appointed to prepare tender documents for the development of the Lattakia port.
"All studies show that we need to expand Lattakia port because of the growing demand due to the reconstruction in Iraq," said Lattakia Port director general, Suleiman Baloush.
Source: Bloomberg
