Syria and Saudi Arabia Sign MoU to to expand production lines.

Memorandum of Understanding

Syria's General Establishment for Geology and Mineral Resources signed a memorandum of understanding with Saudi company SAMIROCK, launching a project aimed at utilizing oil shale in the production of diammonium phosphate. The signing ceremony took place at the Ministry of Energy headquarters in Damascus, under the patronage of both the Ministry of Energy and the Ministry of Economy and Industry, as part of broader efforts to strengthen investment cooperation and develop the country's mineral resources and manufacturing sectors.

Related Agreements

The agreement forms part of a wider series of deals concluded by the Syrian Ministry of Energy to revitalize the phosphate sector. In January, the ministry signed two additional agreements: the first with Sharqiya Trading and Contracting Company, covering the extraction of one million tonnes of phosphate from the mine site, including exploration, production, and export operations. The second agreement, concluded with Al-Hassan Holding Company, provides for the marketing of one million tonnes via overland transport and one and a half million tonnes by sea, diversifying sales channels and boosting revenue streams.

Mineral Revenue Surpasses 62 Million Dollars

The General Establishment for Geology and Mineral Resources announced in early January 2025 that revenues had exceeded 62 million dollars since the start of the year, reflecting the accelerating pace of sector rebuilding and the expansion of mineral activity after years of stagnation.

Strategic Commitment

These successive agreements underscore the Syrian government's commitment to leveraging its natural resources through regional and international partnerships, with the aim of supporting the national economy and broadening sources of public income.