In an earth-shaking revelation with the potential to transform Türkiye's trade panorama, DP World, a leading player in the global port industry, and Türkiye's own Evyap Group, have pulled back the curtains on a strategic equity collaboration brimming with promise and a fervor for pioneering innovation.
DP World, headquartered in Dubai, takes the lead with a commanding 58 percent stake in Evyap Port, while Türkiye's Evyap Group secures a substantial 42 percent ownership of DP World Yarimca. Together, they are forging DP World Evyap Port, a dynamic entity committed to revolutionizing trade infrastructure in Türkiye.
Their vision is crystal clear: elevate container port facilities, optimize efficiency, and ignite the Marmara gateway market. This collaboration aims to breathe life into productivity, expedite turnarounds, fortify security, and expand service horizons, all in the service of Türkiye's thriving trade.
This partnership emerges against the backdrop of a significant economic alliance between Türkiye and the United Arab Emirates. The announcements of agreements and accords worth $50.7 billion in various strategic sectors, including infrastructure, energy, defense, technology, finance, and space, demonstrate their commitment to economic growth and job creation.
Türkiye shines as the UAE's fastest-growing top 10 trading partner, with investments totaling $7.8 billion across sectors such as financial services, real estate, transportation, renewable energy, ports, and logistics.
DP World believes that the UAE-Türkiye Comprehensive Economic Partnership Agreement (Cepa) holds the key to unlocking Türkiye's potential as a global trade hub. DP World Yarimca, situated in the Izmit Gulf, boasts a container terminal with a capacity of 1.15 million twenty-foot equivalent units (TEUs) and plays a vital role in connecting Asia, Europe, and Africa through a crucial trade corridor.
Evyap Group oversees Evyap Port, Türkiye's fourth-largest private port, with a container terminal boasting an annual handling capacity of 855,000 TEUs. It features 455 meters of linear dock, welcoming vessels up to 400 meters in length and nimble feeder vessels.
DP World's bold commitment to expanding container-handling capacity by nearly three million TEUs by year-end, including 579,000 TEUs dedicated to Yarimca, aligns perfectly with the demands of pivotal trade markets. Managing 9 percent of the world's handling capacity, DP World ranks among the top five global ports operators. Their medium-term goal is to reach an impressive 100 million TEUs annually, enhancing trade connectivity and driving regional economic growth.
This partnership is a convergence of giants—a promise of boundless potential and a testament to the enduring spirit of trade in Türkiye. DP World Evyap Port is the star of this grand spectacle, illuminating the path to a brighter future for trade in Türkiye.
With this expansion, DP World is poised to meet the growing demands of Türkiye's bustling trade markets. DP World Yarimca's container terminal in the Izmit Gulf is one of the largest in the country, with a capacity of 1.15 million twenty-foot equivalent units (TEUs). It is equipped to handle the world's largest container ships, making it a strategic hub for trade between Asia, Europe, and Africa.
On the other hand, Evyap Group manages Evyap Port, Türkiye's fourth-largest private port, boasting an annual handling capacity of 855,000 TEUs. The port features 455 meters of linear dock, providing services to a wide range of vessels, from large carriers up to 400 meters in length to smaller feeder vessels.
DP World's commitment to expanding container-handling capacity aligns with the rising demand in key trade markets, including a substantial addition in Yarimca. Currently, DP World manages around 9 percent of the world's handling capacity, positioning it among the top five global port operators. Their ambitious goal is to reach a total gross capacity of 93.6 million TEUs, with further expansion plans based on market demand.
In conclusion, the DP World and Evyap Group partnership marks a significant milestone in Türkiye's trade landscape. With their combined expertise and resources, they aim to enhance trade infrastructure, drive efficiency, and contribute to Türkiye's economic growth. As they embark on this journey together, the future of trade in Türkiye looks brighter than ever.