DP World, Evyap Group merge to form key logistics hub in Turkey
Date
7/21/2024 5:09:43 AM
(MENAFN) DP World Group has completed a strategic merger with Turkey’s Evyap Group, following regulatory approval from the Turkish Competition Authority. According to a press release issued by DP World on Friday, this merger combines the strengths of two significant ports on the Sea of Marmara to establish a new global logistics hub, enhancing Turkey's crucial role in international trade.
Under the terms of the DP World Evyap agreement, DP World will acquire a 58 percent stake in Evyaport, while Evyap will take a 42 percent stake in DP World Yarimca. The newly named maritime gateways will be known as DP World Evyap Yarimca and DP World Evyap Korfez. This strategic collaboration aims to meet the growing demand for advanced logistics services in the region, boosting Turkey's import and export volumes, opening new sectors for growth, and strengthening the country's position as a key hub in international supply chains.
The merger will create a combined berthing area of 2,088 meters, enabling the simultaneous docking of multiple very large container ships at both terminals. The total annual container handling capacity will exceed 2 million TEUs, with integrated operations expanding to include project services and heavy cargo handling. DP World Evyap will benefit from advanced road and rail links, providing fast delivery times to customers, supported by a team of over 900 logistics experts dedicated to enhancing the efficiency of cargo transportation.
MENAFN21072024000045015682ID1108463630
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.