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 & 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.

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