Dubai-based international port operator DP World and Türkiye’s Evyap Group agreed to form a strategic equity partnership between DP World Yarımca Port and Evyap Port, the Government of Dubai Media Office confirmed Tuesday.

"The partnership aims at enhancing and growing trade infrastructure by focusing on improving container port facilities and enhancing efficiencies in the key Marmara gateway market," it said.

By combining DP World’s global expertise and Evyap Group’s local stature as a business entity, the partnership will aim to enhance supply chain solutions in Türkiye.

"The collaboration seeks to improve productivity, reduce turnaround times, ensure security and broaden service offerings, benefiting Turkish trade."

Following the completion of the transaction, DP World will own 58% of Evyap Port and Evyap Group will own 42% of DP World Yarimca.

The new business will be named DP World Evyap Port. The transaction remains subject to regulatory approvals.

Evyapport, which is the fourth largest private port in Türkiye, was opened for service in 2004 by the Evyap Group, known for its brands in personal care and cleaning products.

DP World meanwhile continues its activities in Türkiye with one of the largest container terminals in the country – Yarımca Port, in the northwestern province of Kocaeli, opened in 2016.

The DP World Yarimca container terminal in the Izmit Gulf boasts a capacity of 1.15 million twenty-foot equivalent units (TEUs) and can handle the world’s largest container ships, according to the company.

The move comes after the United Arab Emirates (UAE) and Türkiye announced agreements and accords worth a combined $50.7 billion in July as they seek to strengthen investment ties and boost collaboration in strategic sectors.

The accords covered infrastructure, energy, defense, technology, finance and space sectors.