Dubai World Ports Group (“DP World”) has announced the successful completion of a strategic merger with Turkey’s Yildirim Group, following regulatory approval from the Turkish Competition Authority.
This merger brings together the strengths of two major port operators and aims to establish a new global logistics hub on the shores of the Sea of Marmara.
Further enhancing Turkey’s pivotal role in international trade.
Under the agreement, DP World acquires a 58% stake in Yilport.
While Yildirim Group holds a 42% stake in DP World Yarimca.
New Hub that Meets the Growing Demand
The newly combined entities will be known as “DP World Yilport Yarimca” and “DP World Yilport Korfez,” respectively.
DP World Yilport will contribute to meeting the growing demand for advanced logistics services in the region,.
It will also boost export and import volumes in Turkey and create opportunities for new sectors.
This collaboration reinforces Turkey’s position as a rising center in global supply chains.
The merger will result in a total quay length of 2,088 meters.
Allowing simultaneous berthing of multiple ultra-large container vessels at both ports.
The combined annual container handling capacity will exceed 2 million standard containers.
While integrated operations will include project cargo and heavy goods services.
DP World and Yildirim Group Hub shortens operational times
DP World Yilport will benefit from advanced road and rail connections, ensuring swift delivery times for customers.
With a dedicated logistics team of over 900 experts, they aim to enhance shipping efficiency.
Sultan Ahmed Bin Sulayem, Chairman and CEO of DP World, expressed their vision of leading global trade toward a stronger, more efficient, and sustainable future.
This strategic partnership with Yilport will further develop their strategy in Turkey, a crucial market for DP World.
UAE Government Cyber Security Council:
-There are no indications of hacks or cyber attacks due to the global technical failure.
We recommend that you exercise caution to avoid falling victim to hackers who may exploit this technical flaw cybernetic.
We call on all… pic.twitter.com/ghAQBh91B9
— UAE Voice (@uae_voiceeng) July 19, 2024
Chris Adams, CEO of DP World Turkey, emphasized the significant economic benefits for Turkey and the broader region.
By leveraging the strengths of DP World Yilport, they aim to enhance services at the heart of this strategically important trade area.
Mohammed Yildirim, Founder and CEO of Yildirim Holding, highlighted the value of combining DP World’s global expertise with Yilport’s local knowledge.
The new company will shorten operational times and diversify services.
It will also add value for customers and trade in Turkey through efficient operations achieved via Yilport DP World Yarimca.
