DP world and Evyap group join forces…

By combining DP World Yarimca and Evyap Port a new business entity is being created, with the name confirmed as DP World Evyap Port.

This new deal will see DP World take a 58 per cent stake in Evyap Port, with Evyap Group owning 42 per cent of DP World Yarimca.

The aim of the proposed venture is to allow the two port operators to cut turnaround times, widen service offerings and enhance security capabilities as part of a wider objective of improving supply chain solutions for the Turkish market.

The transaction remains subject to all necessary regulatory approvals in Turkey.

Located in the Izmit Gulf, DP World Yarimca handles around 700,000TEU annually across its two terminals. Capacity at the port is 1.15 million TEU per annum. Evyap Port is located just 10km from Yarimca and has a quay of 455m and a capacity of 855,000 TEU per annum.

The proposed transaction remains subject to regulatory approvals.

Turkey has a relatively high number of facilities handling containers, with as many as 26 different locations. Collectively, it is a market totalling around 12 million TEU per annum.