Steel (213)


The Government has decided to put an end to its offer to lease to the private sector the management of five cement companies and the Hama steel company.

A number of Syrian expatriates are investing in a USD 10 million hot-rolled steel bars manufacturing plant in Homs.

Himalaya Energy (Syria) B.V. is the new Amsterdam-registered 50:50 Joint Venture Company that acquired the entire shares of Petro-Canada in Al Furat Petroleum Company.


The Syrian government has endorsed the plan of the ministry of industry to open state-owned cement factories to private investment in order to develop and boost the production of its plants by 75 percent.


Hundreds of refugees have continued to flee across Iraq’s border into Syria as a US-led offensive in Iraq’s western province ended on November 22.

President Bashar al-Assad on November 10 accused Washington of sabotaging Syrian efforts to normalise ties with Baghdad and offered an invitation to President Jalal Talabani and Prime Minister Ibrahim Jaafari to visit Damascus.

The Syrian Government is licensing for the first time ever a public sector company to the private sector.
Good results from the larger steel and cables companies hide the poor performance of a number of smaller plants.

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

Syria and Iran are set to continue to expand their economic cooperation, in particular in the industrial field.

The Syrian President issued on January 28 a new decree regulating investment in the country's free trade zones (FTZ).

Syria's minister of Industry, Issam al-Zaim, and Iran's Minister of Housing and Urban Development Ali Abdol-Alizadeh have agreed to set up a joint industrial committee.

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