"Syria and Saudi Arabia have signed a major investment package spanning aviation, energy, real estate and telecommunications as Damascus's new leadership seeks to rebuild after a devastating 14-year civil war. Syrian Investment Authority chief Talal al-Hilali announced a swath of deals on Saturday, including the development of a new international airport in Aleppo, the launch of a low-cost Syrian-Saudi airline, and a telecommunications project called SilkLink aimed at turning the country into a regional hub."
"Saudi Investment Minister Khalid al-Falih said the newly launched Elaf fund, which aims to finance large-scale projects with participation from Saudi private-sector investors, would commit $2bn (7.5 billion Saudi riyals) to develop two airports in the Syrian city of Aleppo. Abdulsalam Haykal, Syria's minister of communications and information technology, said his country will see nearly $1bn in investment in the telecommunications sector, with plans to lay thousands of kilometres of cable to boost connectivity between Asia and Europe."
Saudi Arabia and Syria signed a multi-sector investment package covering aviation, energy, real estate and telecommunications as Damascus's new leadership seeks to rebuild after a 14-year civil war. The Elaf fund will commit $2 billion with Saudi private-sector participation to develop two airports in Aleppo. Nearly $1 billion will flow into telecommunications for a SilkLink project and plans to lay thousands of kilometres of cable to boost connectivity between Asia and Europe. Flynas and Syria's Civil Aviation Authority will form Flynas Syria, 51 percent Syrian-owned and slated to begin operations in Q4 2026. ACWA Power signed a water agreement with Syria's Ministry of Energy.
Read at www.aljazeera.com
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