ALBAWABA- On Tuesday, the "Dubai World Ports" company revealed its acquisition of a 58% stake in the Turkish "Evyap Port," aiming to bolster supply chain solutions in Turkey.
This strategic move is a result of an agreement between "Dubai World Ports" and the Turkish "Evyap" group, focusing on a partnership involving ownership shares of "DP World Yarimca" and "Evyap" ports.
The transaction will grant "DP World" ownership of 58% of "Evyap Port," reciprocated by "Evyap" obtaining 42% of "DP World Yarimca Port" in Turkey. The merged entity will be named "DP World Evyap." The annual capacity of "Evyap Port" includes handling 855,000 TEUs, 1.12 million tons of liquid goods, and 500,000 tons of general cargo.
Additionally, "Dubai World Ports" has applied for a controlling stake in "Evyap Deniz," the operator of "Evyap Port," as reported by "Bloomberg." The company's global investment value reached approximately $65 billion by 2022, according to Chairman Sultan Ahmed bin Sulayem.
In the past decade, "DP World" has invested over $20 billion in various sectors including ports, terminals, logistics, free zones, maritime services, and technology-driven commercial solutions.
