UAE port operator DP World to acquire majority stake in Türkiye's Evyap Port

Dubai-based port operator DP World and Türkiye's Evyap Group have agreed to establish a strategic equity partnership, under which the former will acquire a majority stake of Türkiye's Evyap Port, the media office of the Government of Dubai said in a statement on Tuesday.

Under the deal, which is still subject to regulatory approvals, the leading port operator of the United Arab Emirates will own 58 percent of Evyap Port, and Evyap Group will own 42 percent of DP World's Yarimca port container terminal, both of which are located in northwestern Türkiye, the statement reads, adding that the new business will be called DP World Evyap Port.

The move is "aimed at enhancing and growing trade infrastructure by focusing on improving container port facilities and enhancing efficiencies in the key Marmara gateway market," it added.

The partnership seeks to improve productivity, reduce turnaround times, ensure security, and broaden service offerings, it noted.

Evyap Port container terminal has an annual handling capacity of 855,000 TEUs (20-foot equivalent units), while the Yarimca container terminal has 700,000 TEUs, according to figures released by the companies.