DP World secures majority stake in Turkey’s pivotal Evyap Port
In a strategic move aimed at enhancing global trade infrastructure, DP World has acquired a 58% equity stake in Turkey’s Evyap Port. The partnership will focus on bolstering container port facilities and streamlining efficiencies in the critical Marmara gateway market, positioning the new venture as a dominant player in the region.
Upon completion of the transaction, which remains subject to regulatory approvals, the venture will be rebranded as DP World Evyap Port. Meanwhile, Evyap Group will hold a 42% stake in DP World Yarimca, ensuring balanced equity distribution between the two key entities.
This alliance leverages DP World’s global reach with Evyap Group’s regional expertise. It is designed to provide state-of-the-art supply chain solutions in Turkey. The collaboration aims to enhance productivity, minimize turnaround times, and expand the range of service offerings, consequently benefiting Turkish trade as a whole.
The acquisition comes against the backdrop of a warming relationship between the United Arab Emirates and Turkey. A groundbreaking meeting between UAE President Sheikh Mohamed bin Zayed Al Nahyan and President Recep Tayyip Erdoğan of Turkey has significantly elevated bilateral ties. The high-level talks spanned various sectors, including trade, technology, and security, heralding a new chapter of collaborative endeavors between the two nations.
This renewed friendship is particularly significant in the arena of trade, with the DP World-Evyap Port partnership standing as a prime example of this blossoming cooperation. The venture aligns the strategic interests of both countries, setting the stage for not only a boost in bilateral trade but also for impacting regional and global trade dynamics positively.