Russia plans to invest $500 million over the four coming years in the modernization of the Syrian port of Tartus, which it rents, in order to increase traffic flow, Deputy Prime Minister Yury Borisov said on Tuesday
DAMASCUS (Pakistan Point News / Sputnik - 17th December, 2019) Russia plans to invest $500 million over the four coming years in the modernization of the Syrian port of Tartus, which it rents, in order to increase traffic flow, Deputy Prime Minister Yury Borisov said on Tuesday.
"The Russian side intends to set straight operation of the old port and to build a new trade port. The investment planned for the four years to come is estimated at $500 million," Borisov, who is currently on a working visit in Syria, told reporters.
As many as 3,700 people can be employed at Tartus despite the low load, Borisov said.
Russia plans not just to upgrade the port, but also to restore some sections of the railroad passing Syria and Iraq and build some new sections in order to create a Mediterranean Sea-Persian Gulf transport corridor and therefore boost traffic flow through Tartus, Borisov added.
