Syria signs 30-year agreement with France

The Syrian government has reached a 30-year agreement with French shipping giant CMA CGM to redevelop and manage the port of Latakia, worth a total of 230 million euros.

According to the agreement, a new berth (prichal) 1.5 kilometers long and 17 meters deep will be built in the port area, and the infrastructure designed to accommodate large ships will be upgraded.

According to the financial distribution, 60% of the port's revenue will go to the Syrian side, and the remaining 40% to CMA CGM.

This agreement is the first major foreign investment deal under the leadership of President Ahmed al-Shar'i after President Bashar al-Assad left power.