Steel Rolling International Company (SRIC) will commission its reinforcing bar plant before the end of this year with an annual production capacity of 300,000 tons.
In spite of strong interest from local investors, Syria’s industrial cities have yet to attract significant numbers of foreign companies.
The Syrian President has issued a decree cancelling the import fees and commissions paid by local industrialists to state-owned institutions.
The Italian government has agreed to loan EUR 20 million to support the development of the textile industry in Syria.
Construction Products Holding Company has officially launched its operations in the Industrial City of Adra.
SIVECO, one of Syria’s two car assembly companies, commissioned on July 3 a new production line at its plant based in the Industrial City of Hessia, some 50km south of Homs.
Nexant, a UK-based consultancy, will conduct a technical and feasibility study for the development of a phosphate-based fertilizer project on behalf of the Syrian-Qatari Holding Company (SQHC).
The Syrian government has set minimum prices on a large list of imported manufactured products in a move aimed at protecting local industry.
SIAMCO has expanded its car plant located in Adra, outside Damascus, to allow it to paint and assemble the body of its cars.
Hempel, the global paints manufacturer, has commissioned a SYP 500 million (USD 10.6 million) plant in the industrial city of Hessia, near Homs.
The turnover of the General Organization of Tobacco, one of the largest firms in Syria, reached SYP 25.64 billion in 2008, an annual increase of 5 percent.
The Ministry of Finance will disburse this year some SYP 937 million from the Government’s Central Budget to pay the salary of workers in 14 loss-making state-owned firms.
Hamisho Economic Group will begin production in its new car assembly plant in the last quarter of 2009, according to Imad Hamisho, Chairman of the Group.
Arabian World Cement Factory Co. will begin construction works on its USD 500 million cement plant north of Damascus before the end of this month.
The world financial and economic crisis have led to a sharp decline in the demand for Syrian phosphates, according to the Minister of Petroleum and Mineral Resources, Sufian Al-Allao.


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