Deir-ez-Zor (453)

Noor Petroleum has announced that the feasibility study for the establishment of a refinery in Deir-ez-Zor has been completed.

The Kuwaiti Fund for Arab Economic Development will provide a concessionary loan of USD 56 million to part-finance the construction of a motorway linking Deir-ez-Zor to the Iraqi border.


The International Finance Corporation, a subsidiary of the World Bank, is among the founding shareholders of Noor Islamic Bank, an institution under establishment in Syria.

The Kuwaiti Fund for Arab Economic Development has extended a new loan to Syria to finance the construction of the Deir-ez-Zor-Hassakeh motorway.
Syria’s production of crude oil reached an average of 366,329 barrels a day during the first quarter of this year, according to the Ministry of Oil.

The Central Bank of Syria has licensed one new foreign exchange dealer, putting the total number of money dealers operating in Syria at 8.


The Public Establishment for Electricity Generation and Transmission (PEEGT) is embarking on a large development programme, which will see over 4,500 MW of generating capacity added in the coming three years.


A number of projects offered for development during the conference organized to attract investment to the eastern regions last March have been booked by potential investors, according to the State Planning Commission.


CNPC and the Syrian Government have signed a memorandum of understanding for the construction of an oil refinery with a daily capacity of 100,000 barrels of oil.

AFPC has found gas reserves in the Azraq field, which could potentially be significant.

The Deir-ez-Zor Paper Mill posted sales of SYP 1.6 billion and profits of SYP 26 million in 2007, according to Ahmad Saied, General Manager of Vimpex Al-Nemsawia, the managing firm.


The Ouais Group has won the contract to build the Jasmine Hills Real Estate development, located in the area of Yaafour, near Damascus.


Syria will start importing light crude oil in 2009, according to Omar Al-Hamad, Director-General of the Syrian Petroleum Company (SPC).

The State Planning Commission is organizing a 2-day conference in Deir-ez-Zor to promote investment in the eastern part of Syria.

Cham holding has entered into a joint-venture with three Kuwaiti firms to tender for large utilities and other infrastructure contracts in Syria.


Syria’s production of crude oil reached 380,000 barrels a day on average in 2007, according to Sufian Al-Allao, Minister of Oil.

The number of branches operated by private banks in Syria reached 68 at the end of last year, an annual increase of 58 percent.
Foreigners wishing to invest in projects located in any of Syria’s Industrial Cities are now allowed to purchase an unlimited area of land for the purpose of their investment.

The Syrian government has signed an agreement with Iran, Venezuela and a Malaysian consortium to build a 140,000-barrel per day refinery in central Syria.

Passengers’ traffic at Syrian airports reached 3.485 million in 2006, an annual increase of 10.5 percent.

Syria’s first two money exchange firms have started operations ending a 40-year ban, while six other firms as well as two exchange bureaus will open within a month, according to a source at the Central Bank of Syria.


The Kuwait Fund for Arab Economic Development has accepted to extend a new concessionary loan of KWD 6 million (USD 20 million) for the building of the Hassakeh-Deir-ez-Zor road in north east Syria.

The number of vehicles that were imported in Syria in 2006 reached 145 932 according to a report published by the official Syrian Arab News Agency (SANA).
The General Organization for Free Zones (GOFZ) has given a preliminary approval to a group of investors to set up three dry ports in the north, south and eastern parts of the country at a total investment cost of USD 25 million, according to Ahmed Abdu...

Syria continues to suffer from power shortages around a month after the electricity crisis began.


Syria’s production of sugar beet is expected to reach 1.4 million tons in 2007, according to the Ministry of Agriculture.


The International Fund for Agricultural Development (IFAD) will provide a loan of USD 20 million to Syria as part-financing of a project to create employment opportunities and reduce water shortages for rural populations.


The Syrian Investment Commission has licensed 30 investment projects that are worth a total investment cost of SYP 12.27 billion.

The building of an oil refinery in Deir-ez-Zor moved further ahead following the signing of a new Memorandum of Understanding between the Minsitry of Oil and Noor Financial Investment Company

The Ministry of Oil has invited international oil companies to bid for the exploration of four offshore blocks. This is the first time Syria offers offshore areas for exploration

During a visit to the city of Deir-ez-Zor, the Syrian President laid the foundation stone to a number of projects worth a total of close to SYP 20 billion (USD 400 million)
The General Organization for Free Zones (GOFZ) has given a preliminary license to private investors for the set-up of a privately-managed free trade areas, according to Mr. Ahmed Abdul Aziz, director general of the Organization

Syria is moving closer to build its first privately-held oil refinery, according to Abdallah Dardari, Deputy Prime Minister.

The Government is planning to be build the Deir-ez-Zor Industrial City (DZIC) on a turnkey basis, according to Al-Baath.

Mohamed Abdulmohsin Kharafi and Sons of Kuwait (Kharafi) has started operations of Syria’s first radio taxi project in Damascus known as Star Taxi.


The General Organization for Free Zones (GOFZ) plans to partner with private firms to build and manage new free zones, according to Ahmed Abdul Aziz, director general of the Organization.


Two new industrial areas are going to be built in Deir-ez-Zor, the eastern Syrian province, and Idlib, in the north west of the country.


The Industrial Bank of Syria has gained some breathing space and will be on the offensive again this year, according to Anis Al-Maaraoui, Director General of the Bank.


Ten new blocks will be offered for concession in the coming two months according to the Syrian Minister of Petroleum

The volume of investment in the tourism sector stood at SYP 109 billion in 2006, according to Saadallah Agha Al-Qalaa

Syria's export of wheat grew 100 percent in 2006, according to the General Establishment for Cereal Processing and Trade.


Noor Financial Investment Company (Noor), a Kuwait-based investment firm, will start building a new oil refinery in Syria before the end of 2007


Only a few weeks after it was enacted the changes to the income tax law have been criticised by members of the local business community.


The Cabinet is due to approve the establishment of a fourth industrial city near Deir-ez-Zor, in the northeast of the country


Shell’s new investment in Syria is part of a long-term strategy says Campbell Keir, General Manager of Shell Syria, following the signing of two production sharing contracts with the Ministry of Oil


The production of phosphate in the first three quarters of this year is in line with projections.


The Ministry of Health has inaugurated three new hospitals in the rural areas around the cities of Aleppo, Lattakia and Hama.


Iberdrola is in discussion with the Ministry of Electricity to build a 100-MW wind power plant.

Syria and Iran have signed a memorandum of understanding to build a new industrial city dedicated to Iranian investments in the city of Hessia 47 km south of Homs.
The Islamic Development Bank has accepted to part-finance the building of the third phase of the Arab Gas Pipeline that will run from the Jordanian border to the city of Homs.