Emirati logistics giant DP World has joined forces with Turkey’s Evyap Group to establish a strategic equity partnership that will merge DP World’s Yarimca Port and Evyap Port.
Emirati logistics giant DP World has joined forces with Turkey’s Evyap Group to establish a strategic equity partnership that will merge DP World’s Yarimca Port and Evyap Port.
Upon finalizing the acquisition, DP World will secure a 58% stake in Evyap Port, while Evyap Group will possess 42% of DP World Yarimca.
The newly formed entity, the christened “DP World Evyap Port,” marks the outcome of this strategic equity collaboration. Currently, Evyap manages an annual throughput of 700,000 TEUs (twenty-foot equivalent units) and boasts a yearly capacity of 1.15 million TEUs. In contrast, DP World Yarimca has the capability to accommodate four vessels concurrently.
Emirati logistics giant underlined that this partnership aims to fortify trade infrastructure and bolster supply chain solutions. A spokesperson highlighted the shared objectives, stating, “By combining the DP World’s global expertise and the Evyap Group’s local stature as a business entity, the partnership will aim to enhance the supply chain solutions in Turkey.”
The focus of this collaboration extends to enhancing production, streamlining turnaround times, ensuring security, and broadening service offerings – all of which are expected to positively impact Turkish trade.
Notably situated in the close proximity to Turkey’s key industries and organized industrial zones, Yarimca Port presents companies with a cost-efficient alternative. Emirati logistics giant’s extensive experience in global trade and Evyap Group’s strong local presence are anticipated to synergistically advance trade infrastructure in the essential Marmara gateway market.
The successful establishment of this strategic partnership adds momentum to the growing trade connections between the United Arab Emirates and Turkey.
It reflects a concerted effort to bridge the global trade networks with local insights, fostering economic growth, innovation, and logistical efficiency. As the global commerce continues to evolve, partnerships like these are instrumental in propelling nations towards enhanced trade capabilities and seamless supply chain operations.