Turkish competition regulators will allow DP World’s Yarimca terminal, one of Turkey’s largest, to merge with the neighbouring Evyapport terminal.
Under the terms of the deal to create the newly formed entity, DP World Evyap, the global logistics company will have a 58 per cent stake in Evyapport, while Evyap Group secures a 42 per cent share of DP World Yarımca.
The rebranding will introduce ‘DP World Evyap Yarımca’ and ‘DP World Evyap Körfez’ as the new names for the gateways.
“This partnership combines the global expertise of DP World and the local knowledge of Evyapport and strengthens our presence in the port sector as we expand our investments in this field,” said Evyap Holding founder and CEO, Mehmed Evyap. “The new company will shorten operation times, increase service diversity and add value to our customers and Turkey’s trade with efficiencies achieved across the two partnership terminals.”
Combining operations at the two facilities will produce a combined 2,088 metres of berthing space, and will allow more than one ultra-large container vessel simultaneously at both terminals.
Total annual container handling capacity will also exceed 2m teu, and the integrated operation is to be expanded to include project and heavy lift cargo services.
“This is an exciting partnership that will bring significant economic benefits to Turkey and the wider region,” said DP World Turkey CEO, Kris Adams. “DP World Evyap’s combination of the respective strengths of our existing infrastructures will provide our customers with a powerful new service offering at the heart of this increasingly important region for global trade.”
In other news, SAF-Holland has strengthened its market position following its latest acquisition.
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