Iraqi Firm Wins “$300m” Syrian Cement Plant Deal:
Iraq’s Vertex Investment Group has reportedly signed a Memorandum of Understanding (MoU) with Syria’s Ministry of Economy and Industry to rehabilitate and expand the Hama Cement Plant.
According to the state-run Syrian Arab News Agency (SANA), the agreement covers the upgrade of the third production line, raising daily clinker output from 3,300 to 5,000 tons within 13 months. It also includes the construction of a new 6,000-ton-per-day line, bringing the plant’s total daily capacity to around 11,000 tons over the next five years.
In addition to capacity expansion, the deal stipulates workforce training, quality assurance, compliance with international environmental standards, and enhanced safety and industrial security measures.
Syrian Deputy Minister of Economy and Industry, Bassel Abdel Hanan, emphasised the strategic significance of the agreement during a meeting with the Vertex delegation.
Cemnet.com cites a source as valuing the deal at around $300 million.
