Saudi Arabia and Syria Sign $5.3 Billion Agreements in Aviation, Telecommunications, and Water Sectors
Saudi Arabia and Syria have signed five agreements totaling $5.3 billion aimed at enhancing investment and cooperation in aviation, telecommunications, and water sectors. The agreements, signed in Damascus, focus on developing infrastructure, establishing a new airline, and launching the Elaf Fund for major projects. Key initiatives include modernizing communications, improving digital connectivity, and constructing a seawater desalination plant. The partnerships are expected to position Syria as a regional hub for data transit and international connectivity.
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Saudi Arabia and Syria signed five agreements worth $5.3 billion in Damascus to enhance economic cooperation, focusing on aviation, telecommunications, and water sectors. The agreements include the establishment of the Elaf Investment Fund for major projects and the launch of a new low-cost airline, Nas Syria.
Key projects involve upgrading telecommunications infrastructure, developing digital connectivity, and constructing a seawater desalination plant. The total Saudi investments in Syria are now approximately 60 billion riyals ($16 billion), reflecting a commitment to support Syria's recovery and stability.
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