Syria signs $14bn infrastructure deals, will revamp Damascus airport

Syria’s fledgling authorities has sought concern to reconstruct the state aft its devastating yearslong civilian war.

Syria has signed a bid of concern deals with planetary companies, covering 12 large strategical projects successful infrastructure, proscription and existent property valued astatine a full of $14bn, the latest lifeline aimed astatine reviving its war-ravaged economy.

The plans included a $4bn concern task for Damascus airport signed with Qatar’s UCC Holding and a $2bn woody with the United Arab Emirates nationalist concern corp to found a metro successful the Syrian capital, Talal al-Hilali, caput of the Syrian Investment Authority, said during the ceremonial astatine the statesmanlike palace successful Damascus connected Wednesday.

It’s a invited improvement for President Ahmed al-Sharaa’s caller authorities arsenic it has been grappling with the dense fallout from sectarian unit that broke retired connected July 13 successful the confederate state of Suwayda betwixt Bedouin and Druze fighters. Government troops were deployed to quell the conflict. The bloodshed worsened, and Israel carried retired strikes connected Syrian troops and besides bombed the bosom of the superior Damascus, nether the pretext of protecting the Druze.

Other large developments connected the concern beforehand destined for Damascus see the $2bn Damascus Towers task signed with the Italian-based institution UBAKO, a $500m woody for the Baramkeh Towers task and different $60m statement for Baramkeh Mall.

Since the overthrow of longtime ruler Bashar al-Assad successful December successful a lightning rebel offensive, Syria’s caller authorities person worked to pull concern for the reconstruction of infrastructure destroyed successful the country’s devastating, astir 14-year-long civilian war.

The projects “will widen crossed Syria and correspond a qualitative displacement successful infrastructure and economical life”, al-Hilali said connected Wednesday, adding that the agreements were “a turning point” for Syria’s future.

Al-Sharaa and United States peculiar envoy for Syria Tom Barrack were some contiguous astatine the signing ceremony, Syria’s authoritative SANA quality bureau reported connected Wednesday.

Barrack congratulated Syrian authorities connected “another large accomplishment”, saying they volition witnesser the emergence of a “new hub” successful “trade and prosperity”.

The United Nations has enactment Syria’s post-war reconstruction costs astatine much than $400bn. Several deals person already been announced.

Last month, Saudi Arabia signed large concern and concern deals with Syria, valued astatine $6.4bn.

Also successful July, Syria signed an $800m woody with UAE-based institution DP World to make the larboard of Tartous, authorities media reported.

In May, Syria signed a $7bn vigor woody with a consortium of Qatari, Turkish and US companies arsenic it seeks to revive its crippled powerfulness sector.

The US and European Union person precocious lifted sanctions connected Syria successful the aftermath of al-Assad’s ouster, opening the federation to further concern and commercialized deals.