Deir-ez-Zor (466)


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.
The Investment Bureau gave its nod to 212 investment projects in the first half of this year.
A new university based in the eastern city of Deir-ez-Zor has been established following a Presidential decree in that sense.

A German company is expected to be the first private sector operator in the Syrian electricity field after four decades of state monopoly.


The Government approved on May 2 the set-up of the "Eastern Region Development council", which will have the task to coordinate development programs in the three eastern provinces of Hassakeh, Raqqa and Deir-ez-Zor.


Syria has increased its cotton ginning capacity after the inauguration of a new ginning plant in Deir-ez-Zor with an annual capacity of 100 000 tonnes.


IFAD is providing a new concessionary loan of USD 13 million for the development of the rural areas of the north-eastern part of the country.


Iberinco, a subsidiary of Spain’s Iberdrola has won the EUR 430 million contract to build a 760-MW combined cycle power plant in Deir-ez-Zor.

3 million passengers used Syrian airports in 2005, according to preliminary figures from the Directorate General of Civil Aviation published in al-Thawra.

The Arab Fund for Economic and Social Development (AFESD) is providing Syria a loan of USD 100 million to part-finance the building of a 750-MW combined cycle power plant in the eastern city of Deir-ez-Zor.


The General Establishment of Cereals Trade and Processing (also known as Hoboob) is investing SYP 2.4 billion (USD 45 million) in the building of 21 new silos throughout the country.


The Ministry of Oil and Mineral Resources has received 23 bids from thirteen different companies for exploration works on the nine blocks offered for tender in the round held last December in Damascus.


Syria is planning to double its oil refining capacity in the coming five years and switch its exports towards refined products, according to Ibrahim Haddad, Minister of Oil and Mineral Resources.

Syria has signed a memorandum of understanding with a Russian company for the construction of a USD 2.7 billion refinery and petrochemical plant in Deir-ez-Zor.
The Facility for Euro-Mediterranean Investment and Partnership (FEMIP) is granting a EUR 200 million loan for the construction of the Deir-ez-Zor Power Plant in Syria.

France’s Total has denied that it was currently holding discussions with the Syrian Government for the building of a new refinery.

The decrease in oil production levels is prompting the Syrian government to open new blocks for drilling to Arab and other foreign companies.

Syria is engaged in negotiations with French, Chinese and Russian firms for oil projects worth USD 4.4 billion, Abdallah Dardari, Syria’s deputy PM for economic affairs, said during a conference in Manama.

Trade relations between Syria and India increased by 850 percent over the last eight years according to a communiqué from the Indian embassy in Damascus.
Petro-Canada, one of the last major foreign stakeholders in Syria’s oil sector, is to sell its 18.7% share of the Al Furat Petroleum Company (AFPC), Syria’s leading national petroleum company, the Syria Report has learned.
Syria has faced up to the levels of poverty in its country, with the release of a nationwide UNDP report, produced in conjunction with the State Planning Commission, showing that between 2003-2004 almost 2 million individuals, or 11.4% of the populatio...
The nation wide census conducted last year by the Central Bureau of Statistics has started to yield its first results.
The International Bank for Trade and Finance (IBTF) has opened its first branch in Aleppo and the second in the country.
According to the annual report of the Investment Bureau, the Investment Higher Council licensed a total of 759 investment applications for a total paper value of SYP 203.6 billion (around USD 3.85 billion).
The EU is providing a EUR 18 million loan to Syria under the MEDA programme to ensure better management of the country’s big cities - including developing city properties, attracting private investment, creating jobs and boosting services such as...

Conoco Phillips has confirmed that it will be withdrawing from Syria after it transfers the gas treatment plant it is operating in the country at the end of the third quarter of this year.

Exactly one year later than planned, Syria will being to supply Lebanon with gas for the first time in June this year following the completion of the gas pipeline linking the two countries.
The Public Establishment of Electricity for Generation and Transmission (PEEGT) has received bids for the engineering, procurement and construction (EPC) contract for the 750-MW combined cycle plant at Deir-ez-Zor, according to Middle east Engineering.
According to a recently released report, the estimated money transfers from Syrian workers in Lebanon stood at USD 1.5-2 billion a year.
Petro-Canada, Oxy lose major gas deal. State-owned company will run it instead while a new international tender will be issued for the gas treatment plants.
The Ministry of Tourism is organizing an international conference next April to attract more investments in the Syrian tourism sector.
Syria's production of crude oil has dropped to below 500,000 barrels of oil a day (b/d) for the first time in over a decade, according to both independent estimates and the Ministry of Oil.

An important project to divert water from the Euphrates River and to supply water to rural areas was inaugurated this month.

The Public Establishment of Electricity for Generation & Transmission (PEEGT) has released tender documents for the USD350 million engineering, procurement and construction (EPC) contract to build a new 750-MW combined cycle power plant at Deir-ez-...

The pullout of the US company from its lone project in Syria, following pressures from its shareholders, remains however a strong option.

Long-term commitment of TOTAL in Syria is in doubt after it fails to clinch the last significant development contract in the Syrian oil & gas industry.
The transport sector continues to witness significant investments. Air traffic is set to increase with new airports and growing capacity.
The national air carrier has been allowed to offer its services in joint-venture with private sector companies.