Homs (871)


The General Organisation of Chemical Industries (GECI) has announced that its 2005 turnover reached SYP 8.7 billion (USD 167 million).


The demand for diesel oil is expected to reach 8.58 million tons in 2006, according to Abdallah Khatab, director-general of Mahrukat, the state-owned company in charge of the distribution of oil products.


Egypt and Turkey have signed a memorandum of understanding on the marketing of the Egyptian gas that will be supplied to Turkey after the Arab regional gas pipeline is completed.


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.


A new sugar refinery is expected to begin production in Syria in 2007. The new USD 70 million plant is a joint-venture between Tarif Al-Akhras a leading Homs-based businessman, Emirates investors and British firm ED&F Man.


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's Transport Ministry signed a contract with the Chinese Zijan Timis Company whereby 600 buses will be imported to the country.

The OPEC fund issued a USD 3 million loan to the International Development and Clay Industries Company S.A. in Syria. The company will use the loan to construct and operate a modern ceramic clay roof tile plant in Homs. A hollow-block production unit w...

The European Union (EU) has initiated with the Syrian government a Vocational Educational and Training (VET) program in order to increase the efficiency of the local labor market to meet the growing needs of the economy.

The project for the construction of a joint USD 150 million Syrian-Brazilian refinery should start being implemented in the beginning of next year.

Syria ranked third this season among Arab countries following Egypt and Morocco in the production of apples and citrus with expectation of 750,000 tons of citrus and 300,000 tons of apples. Syria also ranked seventh among Mediterranean countries.
Saudi and Syrian investors announced plans to build a USD 32.7 millions petrochemical plant in Syria to manufacture Caustic Soda and chloride. The new plant will be named the Saudi-Syrian Petrochemical Company and will be located in Aleppo (North West ...
A subsidiary of giant Russian company Gazprom won a tender to build the third part of the Arab Gas Pipeline that will ship gas from Egypt across Jordan to Syria and Turkey.

A State-owned Chinese company agreed with Farzat, a Syrian construction company to build a black cement factory in Adra near Damascus.

BEMO Saudi Fransi (BSF) Bank announced that it intends to raise its capital by SYP 250 million (USD 4.71 million) to SYP 1.75 billion (USD 33 million) in a public offering.
A group of Spanish and Syrian investors have been given a license by the Investment Bureau to build a cement manufacturing plant under Law N°10.
A group of Gulf investors has received a preliminary approval to build a new cement plant in the country, according to the local press.
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...

Brazil’s Kepler Weber has announced that it had earned a USD 1.44m contract to supply soybean storage equipment to Al-Akhras Group, one of Syria’s leading commodities trader.

An EU-funded project was launched in Syria at the end of March to develop environmental energy programmes, solar energy programmes and to train higher education students about renewable energy.

A new SYP 957 million dam near Homs that will irrigate over 3,200 hectares of the Bakeea plain was inaugurated by Syrian Prime Minister Mohammed Naji Otri on March 19.

According to a recently released report, the estimated money transfers from Syrian workers in Lebanon stood at USD 1.5-2 billion a year.

The state-owned General Company for Engineering and Consulting (GCEC) has awarded Malaysia's SMHB Sdn Bhd the contract to design and review waste water treatment plants in the cities of Damascus, Homs, Lattakia and Aleppo with a total treatment capacity for a population of two million.

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.

Syria’s income from tourism is estimated to have reached USD 1.85 billion in 2004, an annual 31% rise from 2003 (USD 1.414 billion), according to the Ministry of Tourism.

Bank of Syria and Overseas’ (BSO) total deposits stand at SYP 4 billion (USD 76.92 million), according to George Sayegh, general manager of the Bank, who was talking to al-Thawra.
The Ministry of Tourism is organizing an international conference next April to attract more investments in the Syrian tourism sector.
The Syrian Ministry of Transport (MOT) has asked developers to submit offers to build road projects on a BOT (Build Operate Transfer) basis for the first time in Syria.
Syria is to set-up five relays of its Euro Info Correspondence Centre (EICC).
A Federation of Chambers of Industry is to be created following the passing of a Presidential decree in that sense on 20 July 2004.
The launch of SHERN is part of the development of the Syrian higher education sector that is now also encompassing state universities.
Gas production is taking an increasing role in Syria's energy policy. More gas reserves are found while the development of the Syrian part of the Arab Gas Pipeline has been Okayed.
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.
Daaboul has built a major LAB plant in partnership with Saudi Arabia's Al Rajhi and financing from IFC. The project is one of the major private sector industrial ventures in the country.
The transport sector continues to witness significant investments. Air traffic is set to increase with new airports and growing capacity.
A new NGO, MAWRED has launched Syria's first business incubator dedicated to Syrian business women.

Foreign and local investors are going to build and operate the first private-sector sugar refinery in Syria.

The Prime Minister has named new heads for the General Organisation for Sugar (GOFS) and the General Organisation for Textile Industries (GOTI).
Syrianair has recently opened its fifth new office of the year in Sayyida Zeinab, in the outskirts of Damascus.

The priority given to the education sector is reflected by the opening of the first private universities in Syria's history. However, very high tuition fees remain an obstacle.


Syria's Ministry of Oil is planning to establish a polyethylene plant and soda caustic unit, affiliated to the Homs Refinery Company as a first step in the launch of a local petrochemical industry.

The long term aim is to reduce import of white sugar through the expansion of production capacity. Private investors have been allowed to enter the sector.
Four ventures have appeared as the front-runners for the award of a contract to develop the largest gas fields in Syria.
The oil sector continues to make the headlines again as the award of two oil exploration contracts have been announced in the past month.
One of the most significant direct consequences of the landmark Law N°10, passed in 1991 to provide a more friendly environment to private sector investment, was the complete overhaul of the national transport sector.
Besides the discussions on the reform of Investment law N°10 which have been going on for several months now, the Syrian government has also been working on the set-up of new Hi-Tech economic areas.
Syria is to invest in its first major float glass factory in a joint-venture with an Iranian company.
After the award by Lebanon, of the contract to build the Lebanon side of the Syrian-Lebanese gas pipeline, Syria is expected to start pumping gas to its neighbour before the end of the year.