Long-Term Partnership Contract Signed with a French Company Worth €230 Million
May 1, 2025, 6:23 pm

Long-Term Partnership Contract Signed with a French Company Worth €230 Million

عقد شراكة طويلة الأمد مع شركة فرنسية بقيمة 230 مليون يورو

The General Authority for Land and Maritime Ports in Syria has signed a 30-year contract with the French company "CMA CGM" aimed at developing and operating the Port of Latakia. The contract was signed today, Thursday, at the presidential palace in the Syrian capital, Damascus.

Key Terms of the Contract Between the Syrian Authority and the French Company:

- The contract is for a duration of 30 years.
- The agreement with the French company includes the development and operation of the Port of Latakia at a total cost of €230 million.
- In the first year, the company will invest €30 million.
- In the following four years, an additional €200 million will be invested.
- A new dock will be constructed, measuring 1.5 kilometers long and 17 meters deep.
- The new facilities will allow large ships to access the Port of Latakia.
- The development will enable the port to accommodate a larger number of containers.
- The benefits of the contract will commence five years after the infrastructure is prepared and the port is rehabilitated.
- The new Syrian government has canceled the previous contract, which had completely different terms.

In statements to AFP, Joseph Daqaq, the regional manager of the French company, said: "Today, a contract for the investment and management of the Port of Latakia in Syria has been signed for the next thirty years." For his part, Ahmed Mustafa, the director of the Port of Latakia, clarified that an investment of €230 million will be used to develop the port under the contract, emphasizing that a new dock will be built according to international specifications.

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BENEFIT, the Kingdom’s innovator and leading company in Fintech and electronic financial transactions service, has sponsored the BuildHer CityHack 2025 Hackathon, a two-day event spearheaded by the College of Engineering and Technology at the Royal University for Women (RUW).
Aimed at secondary school students, the event brought together a distinguished group of academic professionals and technology experts to mentor and inspire young participants.
More than 100 high school students from across the Kingdom of Bahrain took part in the hackathon, which featured an intensive programme of training workshops and hands-on sessions. These activities were tailored to enhance participants’ critical thinking, collaborative problem-solving, and team-building capabilities, while also encouraging the development of practical and sustainable solutions to contemporary challenges using modern technological tools.
BENEFIT’s Chief Executive Mr. Abdulwahed AlJanahi, commented: “Our support for this educational hackathon reflects our long-term strategic vision to nurture the talents of emerging national youth and empower the next generation of accomplished female leaders in technology. By fostering creativity and innovation, we aim to contribute meaningfully to Bahrain’s comprehensive development goals and align with the aspirations outlined in the Kingdom’s Vision 2030—an ambition in which BENEFIT plays a central role.”
Professor Riyadh Yousif Hamzah, President of the Royal University for Women, commented: “This initiative reflects our commitment to advancing women in STEM fields. We're cultivating a generation of creative, solution-driven female leaders who will drive national development. Our partnership with BENEFIT exemplifies the powerful synergy between academia and private sector in supporting educational innovation.”
Hanan Abdulla Hasan, Senior Manager, PR & Communication at BENEFIT, said: “We are honoured to collaborate with RUW in supporting this remarkable technology-focused event. It highlights our commitment to social responsibility, and our ongoing efforts to enhance the digital and innovation capabilities of young Bahraini women and foster their ability to harness technological tools in the service of a smarter, more sustainable future.”
For his part, Dr. Humam ElAgha, Acting Dean of the College of Engineering and Technology at the University, said: “BuildHer CityHack 2025 embodies our hands-on approach to education. By tackling real-world problems through creative thinking and sustainable solutions, we're preparing women to thrive in the knowledge economy – a cornerstone of the University's vision.”