Damascus, SANA – In the presence of the President of the Syrian Arab Republic, Ahmad Al-Sharaa, the Ministry of Energy signed on Thursday a memorandum of understanding (MOU) with international companies to enhance investment in the energy sector.
The memo of understanding included the development of four combined cycle gas turbine (CCGT) power plants in the areas of Deir Ezzor, Mahardah, and Zaizoun in Hama countryside, and Trifawi in the Homs countryside, with a total generating capacity estimated at approximately 4,000 megawatts, using American and European technologies, in addition to a 1,000 megawatt solar power plant in the Wadi al-Rabi’ area in southern Syria.
The Ministry of Energy signed memorandums of understanding with each of UCC Holding Group, Urbacon Trading & Contracting Company, Power International, Cengiz Energy, and Kalyon Energy.
In a press conference following the signing of the memo of understanding, Energy Minister,Engineer Mohammad Al-Bashir said;
– In the presence of President Ahmed Al-Sharaa, the most important energy agreement in Syria was signed today, which will enhance economic development, accelerate reconstruction, and reduce the burdens on our people.
– Today we are living in a historic moment that constitutes a turning point in the energy and electricity sector in Syria to rebuild the dilapidated infrastructure in this important sector.
– This memorandum consolidates regional cooperation and integration in the energy sector and helps us stimulate clean and renewable energy projects.
– The investment value of $7 billion will contribute to generating 5,000 megawatts, which will contribute to increasing the number of hours of electrical supply and reflect positively on all aspects of life.
– The agreement includes the development of four power plants with combined cycle gas turbines (CCGT) in the areas of Deir Ezzor, Mharda, Zizoun in the Hama countryside, and Trifawi in the Homs countryside, with a total generating capacity estimated at about 4,000 megawatts, using American and European technologies, in addition to a solar power plant with a capacity of 1,000 megawatts in the Spring Valleys southern Syria.
– The memorandum of understanding contributes to achieving stability, sustainability, and ensuring energy security in Syria soon, noting that the next stage will include the arrival of new supplies of gas from Jordan and Turkey.
– Securing gas supplies contributes to increasing electricity generation and operating hours, which is reflected in people’s living conditions.
– Syria needs many projects to rebuild the economy and achieve comprehensive development, and lifting sanctions on Syria opens new horizons for investment in all sectors.
For his part, CEO of Urbacon Trading & Contracting (UCC), Mr. Ramez Al-Khayyat, said:
– This memorandum is a new phase of joint work to reconstruct Syria by achieving its self-sufficiency to ensure a sustainable renaissance.
Al-Khayyat thanked President Ahmed Al-Sharaa, His Highness the Emir of Qatar Sheikh Tamim bin Hamad Al Thani, and US President Donald Trump for providing the appropriate conditions for signing the memorandum.
Al-Khayyat went on to say:
– “We will utilize the latest energy equipment, and the project will provide more than 50,000 direct job opportunities and 250,000 indirect job opportunities, contributing to the strengthening of the labor market in Syria.”
-The agreements signed today will transform Syria from an energy-deficit country into an energy-exporting country. These agreements and energy projects are a crucial foundation for a return to normalcy in Syria.
American and European technology will be used in the gas and solar energy projects, Al-Khayyat articulated, adding “We will participate in investments in several sectors, most notably contracting, infrastructure, and reconstruction, in addition to energy projects.”
In turn, the US Special Envoy to Syria, Thomas Barrack, said: These moments are not always repeated, and all the efforts of the US administration are in the interest of the new Syrian government.
Barak added: On May 13, President Donald Trump took a bold decision to lift sanctions on Syria, the cradle of civilizations.
The American envoy continued: I convey the greetings of President Trump and affirm his commitment to supporting the Syrian government.
Fedaa
