Syria’s General Authority for Ports and Customs signed a strategic investment agreement with the Turkish company Kuzey Star Shipyard Denizcilik Sanayi ve Ticaret A.S to introduce shipbuilding of all sizes and types, in line with international standards, to the Syrian Arab Republic.
According to a statement published by the authority on Jan. 15 via its official platforms, the agreement includes establishing a fully integrated shipyard at the Port of Tartus (western Syria), a move described as a qualitative shift in the country’s industrial and economic infrastructure.
The agreement follows the Build, Operate, Transfer (BOT) model. It grants the investing company the right to build, equip, operate, and manage a complete shipyard covering shipbuilding, repair, and maintenance, in line with the latest globally adopted technical and engineering standards. The project aims to localize an advanced maritime industry inside Syria.
The investment period is 30 calendar years starting from the signing date. During this time, the Turkish company commits to investing no less than $190 million within a maximum of five years to cover all construction and outfitting work, including docks, equipment, warehouses, and operational facilities, with no financial obligations on the General Authority for Ports and Customs.
The agreement also provides a special discount of 20% of the total invoice value before taxes for construction, repair, or maintenance work carried out on vessels belonging to the Syrian government, to improve operational efficiency and reduce financial burdens.
The Turkish investor company also commits to providing 1,700 direct jobs and 3,500 indirect jobs, with Syrians making up at least 95% of the total workforce. It will also train and qualify Syrian staff and transfer technical and technological expertise across different stages of maritime industry work, placing significant emphasis on the social dimension and knowledge transfer.
In its post, the authority said the project will serve as a key pillar in developing Syrian ports, strengthening Syria’s position on the regional maritime industries map, opening new investment horizons, supporting the national economy, and turning the Port of Tartus into a comprehensive maritime industrial hub serving the local market and neighboring markets.
Who is the Turkish investor company?
Kuzey Star Shipyard Denizcilik Sanayi ve Ticaret A.S was founded in 2013 in Turkey and operates in shipbuilding, construction, and maintenance. It has a strong presence in a strategic industrial and commercial zone in Tuzla, Istanbul (on the Sea of Marmara).
The company, officially registered as Kuzey Star Shipyard Denizcilik Sanayi ve Ticaret Anonim Sirketi, works in ship construction, repair and maintenance, conversion and modernization, as well as mechanical and electrical engineering services related to maritime facilities.
Its facilities in Tuzla include a large waterfront shipyard and advanced ship maintenance infrastructure, including floating docks capable of handling vessels up to Panamax size, in addition to modern technical equipment for ship conversion and refurbishment projects.
The company has been gradually expanding to include newbuild vessel projects alongside traditional services. It provides services to local and international ships through a wide network of commercial relations in Europe and the Middle East.
The company holds an ISO 50001:2018 certification, underscoring its commitment to energy management standards and operational processes in maritime repair and construction, and strengthening client and partner confidence in its technical and administrative capabilities.
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