Abu Dhabi’s AD Ports Group has signed an agreement to acquire a 20% stake in the Latakia International Container Terminal (LICT) in Syria for $22 million, marking a significant step in Syria’s efforts to attract foreign investment as it rebuilds its economy.
The joint venture is being executed in partnership with France-based CMA CGM Group, which currently operates the terminal. LICT handles approximately 95% of Syria’s container volumes, playing a crucial role in the trade of agricultural and industrial goods.
AD Ports highlighted that the investment aims to restore Latakia’s coastal region as a vital trade gateway for Syria and the broader Eastern Mediterranean. The deal will support modernization of terminal infrastructure, digital systems, and operational performance, with plans to increase the terminal’s capacity to 625,000 TEUs by the end of 2026, up from the current 250,000 TEUs.
This investment follows Syria’s ongoing push to attract international capital after the end of decades of isolation and the ouster of former leader Bashar al-Assad. Syrian President Bashar al-Assad recently emphasized the country’s potential as a strategic trade corridor, noting that $28 billion in foreign investment has already been secured this year.
The AD Ports investment is the UAE’s second major venture in Syria in recent months, following Dubai’s DP World 30-year concession agreement in July to develop and operate the Port of Tartus, with planned investments of $800 million.
“This partnership will drive the modernization and operational efficiency of the Latakia terminal, reinforcing its position as a regional trade hub,” AD Ports said.
