Syria and Saudi Arabia sign multibillion-dollar investment deals

At the People's Palace in Damascus, Syria and Saudi Arabia signed a monumental suite of investment agreements in the presence of Interim President Ahmad al-Sharaa and Saudi Investment Minister Khalid al-Falih. These landmark deals follow the lifting of Western sanctions, paving the way for high-quality infrastructure investments.

Core Projects

• SilkLink Telecom Project: A $1 billion (SAR 3 billion) investment led by stc Group to lay 4,500 km of fiber-optic cables, positioning Syria as an international data hub linking Asia and Europe.
• Aviation Sector: The launch of "flynas Syria", a low-cost carrier (51% Syrian, 49% flynas), and the establishment of the $2 billion Elaf Fund to redevelop Aleppo's airports to serve 12 million passengers annually.

Energy and Water

An agreement was inked with Saudi Arabia's ACWA Power to assess and develop seawater desalination projects with a capacity of up to 1.2 million cubic meters per day, ensuring sustainable water security across the country.