July 23, a Saudi delegation of more than 130 businessmen and investors, led by Saudi Investment Minister Khalid al-Falih, arrived in Damascus to discuss opportunities for joint cooperation and sign agreements contributing to promoting sustainable development and economic interests between Syria and Saudi Arabia
Syrian Minister of Economy and Industry Dr. Muhammad al-Shaar and Saudi Minister of Investment Khalid al-Falih launched the Fayhaa white cement factory project in the Adra Industrial City in the Damascus Countryside, marking the first project for white cement production in Syria.
The project comes as part of the Kingdom of Saudi Arabia’s support for the industrial sector in Syria, particularly the cement sector, with the aim of expanding the local production base and reducing foreign imports, thereby supporting the upcoming reconstruction phase in the country.
Saudi Minister of Investment Khalid al-Falih stated in a press release that the project represents the nucleus of an integrated industrial complex, which will later include white cement factories as well as downstream industries and essential building materials, such as ready-mix concrete, aiming to contribute to accelerating the reconstruction process in Syria.
He emphasized that the investment environment in Syria is encouraging and relies heavily on the role of the private sector in the reconstruction process and market expansion, benefiting from Syria’s natural resources and its unique geographical location as a gateway between the Arabian Peninsula and the Mediterranean Basin.
For his part, Dr. Obaid al-Subaie, CEO of Northern Region Cement Company, stated in a comment to SANA that the launch of the first white cement factory in Syria is a significant achievement on the ground. It reflects the company’s strong will and decision to invest seriously and productively, as quickly as possible, with Syrian labor and local contractors under challenging conditions.
Subaie pointed out that the investment value in the project has reached $20 million, providing 130 direct job opportunities and more than 1,000 indirect job opportunities in supporting and beneficiary logistics sectors.
It is worth mentioning that the new project involves establishing a mill for producing white cement with an annual production capacity of approximately 150,000 tons, marking the company’s debut in the Syrian market.
In a related context, Al-Badia Cement Company announced the launch of investments exceeding $200 million to expand its operations and begin constructing a second production line for the company, coinciding with the visit of the Saudi delegation to Damascus.
