A joint private Egyptian-Saudi-Syrian company has been set up to build a cement factory in Syria to take advantage of laws barring cement imports, despite a local production shortfall.
According to the Middle East Times, the plant will be established in Abu Shamat, 80 kilometers north of Damascus, at a cost of $540 million.
The partners include Egyptian and Saudi businesses such as the Hassan Allam Group on the Egyptian side and Prince Khaled Bin Fahd Bin Nasser Bin Abdel Aziz on the Saudi side, said the weekly.
The Syrian government is trying to increase local production from the current five million tons per year to 8 million – Albawaba.com
