Dubai-owned port operator DP World and Turkish Evyap Group introduced on Friday they’d accomplished a strategic merger that can mix two main ports on the Marmara Sea and create a brand new worldwide logistics hub.
The port merger will improve Türkiye’s important function in world commerce, the 2 corporations stated in a joint assertion after receiving regulatory approval from the Turkish Competition Authority (RK).
The newly fashioned entity, DP World Evyap, sees DP World assuming a 58% stake in Evyapport, whereas Evyap Group secures a 42% share of DP World Yarımca.
The rebranding will introduce “DP World Evyap Yarımca” and “DP World Evyap Körfez” as the brand new names for these key maritime gateways.
“DP World Evyap will help meet the increasing demand for sophisticated logistics in the region, boost Türkiye’s export and import volumes, open up the growth of new sectors and strengthen the country’s growing status as a major hub in international supply chains,” the assertion learn.
The mixed entity will supply 2,088 meters (6,850 toes) of berthing area, accommodating multiple ultra-large container vessel at every terminal concurrently. The whole annual container dealing with capability will exceed 2 million TEUs. The built-in operation can even deal with undertaking and heavy-lift cargo companies.
DP World Evyap will profit from superior street and rail connections and expedited turnaround instances, supported by over 900 logistics specialists devoted to optimizing cargo actions.
The merger leverages DP World’s experience in container dealing with, customs brokerage, and bonded warehousing, alongside Evyapport’s proficiency in container, liquid bulk, and basic cargo operations.
Enhanced by state-of-the-art digital applied sciences, the partnership positions DP World Evyap as a number one participant within the area’s logistics sector, promising to spice up Türkiye’s commerce volumes and stimulate the expansion of latest industries.
Significant financial advantages
Sultan Ahmed bin Sulayem, DP World Group chair and CEO, stated the partnership advances the corporate’s technique in Türkiye, which he says is one in all its most vital markets.
“We’re delighted to bring enhanced end-to-end solutions to our customers and the many benefits in speed and efficiency of this union,” Sulayem was quoted as saying within the assertion.
Kris Adams, CEO of DP World Türkiye, stated “the partnership will bring significant economic benefits to Türkiye and the wider region.”
He stated DP World Evyap’s mixture of respective infrastructures would offer prospects with a strong new service providing “at the heart of this increasingly important region for global trade.”
Mehmed Evyap, founder and CEO of Evyap Holding, pointed to “the global expertise of DP World and the local knowledge of Evyapport,” which, he stated, would strengthen the businesses’ presence within the port sector.
“The new company will shorten operation times, increase service diversity, and add value to our customers and Türkiye’s trade through efficiencies achieved across the two partnership terminals,” he added.
Source: www.dailysabah.com