Royal Logistics News: DP World and Turkey’s Evyap Group have reached a strategic equity partnership. Under the agreement, the Dubai-based terminal operator will take over Evyapport in the Gulf of Izmit.
Royal Logistics understands that the deal, which is subject to regulatory approval, will see DP World hold a 58% stake in Evyap Port in exchange for a 42% stake in the Yarimca Port Container Terminal.
Established in 2003, Evyapport is the fourth largest private port in Turkey, covering an area of 265,000 square meters, with 855,000 TEU container terminals, oil tank terminals, project and general cargo terminals.
DP World Group opened the Yarimca Container Terminal in 2016, with an annual handling capacity of 700,000 TEUs and a throughput capacity of 1.15 million TEUs. Earlier this year, Yarimka became the first port in Turkey to incorporate remote-controlled electric cranes into its operations.
The equity partnership aims to strengthen and develop trade infrastructure by focusing on improving container port facilities and increasing efficiency in Marmara’s main gateway market, the parties said.
“This collaboration aims to increase productivity, shorten turnaround times, ensure safety and expand service offerings to benefit Turkish trade,” DP World said in a press release.