General Company for Iron and Steel Products (11)


The Syrian government is planning to award major projects in the tobacco and steel sectors to private companies in a bid to win badly needed investment amid a lack of government funds.


The prices of building materials in the local market have been extremely volatile over the past two months because of the ups and downs of the currency rate and higher tariffs. The fluctuations are almost certain to curb construction activity.


Syria has awarded a Russian company a new offshore oil exploration contract as part of a set of new investment and trade agreements between the two countries.


Syria’s steel industry is struggling to increase production as demand remains low and limited construction works take place in the country.


Around half of Syria’s state-owned manufacturing companies are in such dire straits that they will likely never start operations again, an official report has found.


The Syrian Metals and Steel Council was established last week with the aim of lobbying for a sector that will benefit from any reconstruction drive.


Apollo, an Indian engineering firm, has started works on a project to increase capacity at a state-owned steel company.


Ministry of Industry continues to seek the involvement of the private sector while avoiding privatization.


The General Company for Iron and Steel Products exported USD3 million worth of goods in 2001.