Latest news with #InvestmentAuthority
Shafaq News
6 days ago
- Business
- Shafaq News
Syria inks massive investment deals
Shafaq News – Damascus The Syrian government signed $14 billion investment deals on 22 major projects spanning key sectors across the country, in a ceremony held in Damascus on Wednesday. During the ceremony, attended by Syrian transitional President Ahmad al-Sharaa, Investment Authority Director Talal al-Hilali outlined key initiatives, including a $4 billion overhaul of Damascus International Airport, a $2 billion metro system, $2 billion for Damascus Towers, $500 million for Baramkeh Towers, and $60 million for Baramkeh Mall. In his speech, US Special Envoy to Syria Tom Barrack described the investments as important for supporting stability and development in Syria. Meanwhile, the event featured visual presentations of the signed agreements, which also encompass residential and commercial projects in several provinces, including Homs, Hama, and Tartus.
6 days ago
- Business
Syria signs $14 billion in investment deals, including $4 billion airport expansion
DAMASCUS, Syria -- Syria signed agreements worth $14 billion with regional and international companies on Wednesday for 12 investment projects, including modernizing the international airport in Damascus and a new subway system, state media reported. The deals are the largest so far since foreign companies and countries started an investment push into the war-torn country after Western sanctions were eased following the fall of the 54-year rule of the Assad family. The head of Syria's Investment Authority, Talal al-Halili, was quoted by state-run news agency SANA as saying that the expansion of Damascus' International Airport will cost $4 billion and will be done by the Qatar-based UCC Holding. SANA said that the airport will be able to serve up to 31 million travelers a year, after the expansion. SANA added that the agreement for the new subway system in the capital is worth $2 billion, and the network is expected to be used by 750,000 people a day. The deal for the subway was signed by Syria's Transportation Ministry and the United Arab Emirates' National Investment Corporation, SANA said. Other projects include the $2 billion construction of 60 residential towers with 20,000 housing units outside of the capital. 'Syria is open for investments and determined to build a bright future,' al-Hilali said during the ceremony, which was attended by President Ahmad al-Sharaa. In late July, Syria and Saudi Arabia announced 47 investment agreements, valued at more than $6 billion to mark a significant step in rebuilding Syria's war-battered economy. In May, Syria signed an agreement with a consortium of Qatari, Turkish and U.S. companies for the development of a $7 billion 5,000-megawatt energy project to revitalize much of Syria's war-battered electricity grid. 'The future of a prosperous and peaceful Syria is in the hands of Syria and its regional partners,' said the U.S. special envoy to Syria, Tom Barrack, who attended Wednesday's signing in Damascus.
The Hill
6 days ago
- Business
- The Hill
Syria signs $14 billion in investment deals, including $4 billion airport expansion
DAMASCUS, Syria (AP) — Syria signed agreements worth $14 billion with regional and international companies on Wednesday for 12 investment projects, including modernizing the international airport in Damascus and a new subway system, state media reported. The deals are the largest so far since foreign companies and countries started an investment push into the war-torn country after Western sanctions were eased following the fall of the 54-year rule of the Assad family. The head of Syria's Investment Authority, Talal al-Halili, was quoted by state-run news agency SANA as saying that the expansion of Damascus' International Airport will cost $4 billion and will be done by the Qatar-based UCC Holding. SANA said that the airport will be able to serve up to 31 million travelers a year, after the expansion. SANA added that the agreement for the new subway system in the capital is worth $2 billion, and the network is expected to be used by 750,000 people a day. The deal for the subway was signed by Syria's Transportation Ministry and the United Arab Emirates' National Investment Corporation, SANA said. Other projects include the $2 billion construction of 60 residential towers with 20,000 housing units outside of the capital. 'Syria is open for investments and determined to build a bright future,' al-Hilali said during the ceremony, which was attended by President Ahmad al-Sharaa. In late July, Syria and Saudi Arabia announced 47 investment agreements, valued at more than $6 billion to mark a significant step in rebuilding Syria's war-battered economy. In May, Syria signed an agreement with a consortium of Qatari, Turkish and U.S. companies for the development of a $7 billion 5,000-megawatt energy project to revitalize much of Syria's war-battered electricity grid. 'The future of a prosperous and peaceful Syria is in the hands of Syria and its regional partners,' said the U.S. special envoy to Syria, Tom Barrack, who attended Wednesday's signing in Damascus.
Winnipeg Free Press
6 days ago
- Business
- Winnipeg Free Press
Syria signs $14 billion in investment deals, including $4 billion airport expansion
DAMASCUS, Syria (AP) — Syria signed agreements worth $14 billion with regional and international companies on Wednesday for 12 investment projects, including modernizing the international airport in Damascus and a new subway system, state media reported. The deals are the largest so far since foreign companies and countries started an investment push into the war-torn country after Western sanctions were eased following the fall of the 54-year rule of the Assad family. The head of Syria's Investment Authority, Talal al-Halili, was quoted by state-run news agency SANA as saying that the expansion of Damascus' International Airport will cost $4 billion and will be done by the Qatar-based UCC Holding. SANA said that the airport will be able to serve up to 31 million travelers a year, after the expansion. SANA added that the agreement for the new subway system in the capital is worth $2 billion, and the network is expected to be used by 750,000 people a day. The deal for the subway was signed by Syria's Transportation Ministry and the United Arab Emirates' National Investment Corporation, SANA said. Other projects include the $2 billion construction of 60 residential towers with 20,000 housing units outside of the capital. 'Syria is open for investments and determined to build a bright future,' al-Hilali said during the ceremony, which was attended by President Ahmad al-Sharaa. In late July, Syria and Saudi Arabia announced 47 investment agreements, valued at more than $6 billion to mark a significant step in rebuilding Syria's war-battered economy. In May, Syria signed an agreement with a consortium of Qatari, Turkish and U.S. companies for the development of a $7 billion 5,000-megawatt energy project to revitalize much of Syria's war-battered electricity grid. 'The future of a prosperous and peaceful Syria is in the hands of Syria and its regional partners,' said the U.S. special envoy to Syria, Tom Barrack, who attended Wednesday's signing in Damascus.
Al Arabiya
6 days ago
- Business
- Al Arabiya
Syria announces plans for new Damascus airport, subway system
The head of Syria's investment authority, Talal al-Hilali, announced 12 projects worth $14 billion on Wednesday, including $4 billion for a new airport and $2 billion for a metro system for the capital, Damascus.
